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Mayor agrees land sale receipt split with transport body

Wed 1st August 2012, 5:24 pm

The Greater London Authority's land and property unit has agreed to take a reduced fee from a housebuilder for one of its sites in order to stop Transport for London scuppering the plan.

City Hall: Sharing land proceeds with TfL

The site, at Roseberry Place in Dalston, was formerly owned by the London Development Agency, whose assets have now been taken over by the GLA.

The GLA has now agreed to accept a lower amount for the land from Barratt Homes in order to pay its transport authority, TfL for the right to build above its railway line.

A GLA report said: "Planning permission (for 32 homes) was granted by Hackney in March 2012. However, TfL indicated that they would not be willing to give their approval to the development without a financial payment for the oversailing rights.

"Following discussions with TfL it is now proposed that the purchase price to be paid to the GLA, agreed with Barratt, will now be apportioned between the GLA Land and Property Ltd and TfL. Additionally, Transport for London will take the benefit of any sales overage payable."

The report was signed off by deputy mayor Edward Lister.

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