London Calling As SevenCapital Acquires Islington’s Historic Archway Campus
Islington’s 3.65 acre Archway Campus has been acquired by leading UK residential developer and regeneration specialist SevenCapital.
The developer, which carries a strong track record of reviving key regeneration sites across the UK, takes over the historic Archway Campus from housing association Peabody. The site has been earmarked for a residential-led scheme which will provide a range of homes including much-needed affordable housing, and is also likely to include an element of student accommodation, along with private and community amenity space. Pending planning approval, the scheme will have a GDV totalling more than £200 million.
SevenCapital’s proposals will revitalise the significant site which has sat vacant for several years. The proposals will complement the original heritage and style of the former Holborn Union Building, which was originally built between 1877-1879 as the Holborn and Finsbury Union Workhouse Infirmary and designed by Henry Saxon Snell & Sons.
The developer plans to retain and refurbish the main existing buildings whilst introducing an element of new-build development, which will be sensitive to the history of the site as well as its surroundings. It also plans to introduce attractive public park space and private gardens within the grounds.
The acquisition of this site underpins SevenCapital’s increased commitment to the London area. It follows the company’s appointment earlier this year of former Berkeley Divisional Chairman, Angus Michie, as Managing Director. Michie spent more than 24 years at the Surrey-based developer where he founded the St Edward joint venture with M&G and lead numerous significant, high profile London developments.
Michie said: “This site is of historical and cultural importance within Islington so it is incredibly important to us that we bring it back to life in a way that celebrates that whilst also transforming it to be fit for use for current and future generations.
“The area, like much of London, is in need of new, high quality and affordable homes. Our plans aim to deliver this, in line with Islington aspirations for the site, and we look forward to working with the Borough, the local Community and other stakeholders to develop our plans for the site which we hope will form a significant milestone for both the area and for SevenCapital.”