The Regis Road recycling centre

CAMDEN Council has today announced a deal with a major property investor to create a new ‘film quarter’ for London – confirming the New Journal‘s exclusive report on the backstage negotiations.

We revealed earlier this month how the land near Regis Road and Holmes Road had been sized up for the mini-Hollywood scheme aimed at attracting big name movie makers to London.

There will be “stacked studios” and a new “destination” exhibition centre on the site currently home to the council’s tip and recycling centre.

Camden has not set up a competitive tender for the site and has instead tied up an exclusive deal with  Yoo Capital, the firm which is control of some of the capital’s biggest redevelopment projects including Olympia and Shepherd’s Bush Market.

The deal had been paused briefly for a ‘call-in’ of the decision after Liberal Democrats questioned why recently-retrofitted council depots in Holmes Road would now face the bulldozer. It has not been confirmed yet whether they will be demolished, but it is a possibility.

New recycling services will be provided on the site, and the council says 1,000 new homes can be delivered in a deal worth more than £100 millon.

The project was confirmed in a press release sent out by the Town Hall this morning (Tuesday) in which Camden’s regeneration chief Labour councillor Danny Beales said: “We know there is huge creative potential in the people who live and work in Camden. We want to unlock the Kentish Town industrial area to transform this cut-off, unwelcoming site, into one that becomes a greener, welcoming space, connecting Gospel Oak with Kentish Town.

He added: “A new thriving neighbourhood, which is a beacon for creativity, providing more desperately needed affordable homes for local people, good jobs and opportunities for existing communities.

“This is going to be a development shaped with local communities and Camden and Yoo Capital are looking forward to working with residents on realising the shared community vision and getting residents’ thoughts at every stage. We see this development as a way to help combat many of the issues residents are facing in Camden.”

Lloyd Lee, Managing Partner, Yoo Capital, added: “This project will be a shot in the arm for the UK’s creative industries as we look to fuel its exponential growth by attracting the best talent in TV and film to the area. We will be spending the coming months getting to know our neighbours and beginning our work with them to co-author an exemplary masterplan vision.”