AECOM selected as preferred bidder to masterplan £26bn Old Oak Common regeneration
A consortium led by AECOM and its partners BIG, Bilfinger, GVA, Fluid, Maccreanor Lavington, PBA, Weston Williamson, Spacehub, Wilkinson Eyre and East have reportedly secured the £26bn masterplan bid for the regeneration of Old Oak Common, London, UK.
According to Clad News, the group obtained the contract through a competitive tender process, which also included participation by firms such as Arup, Allies and Morrison, Grimshaw, Hawkins Brown, and Farrells.
London’s Old Oak and Park Royal is considered an opportunity area with upcoming High Speed 2 (HS2) and Crossrail Station construction that is expected to be completed by 2026.
The 140ha site will potentially include 24,000 new homes in Old Oak and 1,500 new homes in Park Royal, reported CoStar.
While the construction is expected to create 10,000 jobs in Park Royal, it is estimated that up to 55,000 jobs will be generated in Old Oak.
The project is being overseen by the Old Oak and Park Royal Development Corporation (OPDC), which was established in April last year by the then London mayor Boris Johnson.
OPDC holds the full planning powers for the 650ha boundary, including land in the boroughs of Hammersmith and Fulham, Ealing and Brent.
Former BPF chief executive Liz Peace was appointed as chairman of the OPDC last month by mayor Sadiq Khan.
The masterplan contract will aim to develop a clear strategy for delivery, funding and financing, land assembly, as well as a business plan for OPDC as a future landowner.