Holloway prison site is sold for £80m to build 1,000 new homes

Holloway Prison before it closed in 2016
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Hundreds of new social rented homes and a dedicated women’s centre will be built on the site of Holloway prison, the notorious women’s jail where murderers Myra Hindley and Ruth Ellis and hundreds of suffragettes were held.

City Hall has lent housing association Peabody £42 million towards the £80 million paid to the Ministry of Justice for the 10-acre site in Islington.

Peabody, in a partnership with housebuilder London Square, plans to build more than 1,000 homes, of which 600 will be “affordable” with about 400 available for social rent.

Parks, a women’s centre and shops will also be created where Europe’s largest women’s jail stood until 2016, with construction due to be completed by 2026.

Mayor Sadiq Khan announced the sale at the site this morning accompanied by local MP and Labour leader Jeremy Corbyn. Mr Khan said: “For too long, Londoners have rightly been fed up seeing public land sold off to the highest bidder and then developed with little or no social or affordable housing. We have made sure the Holloway prison site will be different.”

Prisons minister Rory Stewart said money from the sale will help “replace ageing prisons with modern, purpose-built establishments.”

For developer London Square it is in the latest in a series of big London projects. It is building in Bermondsey and has previously created flats on New Kings Road and in Staines Upon Thames. Adam Lawrence, chief executive of London Square, said: “We have a strong track record of delivering high quality, sustainable and mixed communities in London and are delighted to be part of this high-quality team.”

Brendan Sarsfield, chief executive of Peabody said: "As well as providing new homes we will also ensure social infrastructure and placemaking are at the heart of our proposals. We are pleased to be working with London Square which is a continuation of our longer term relationship across a number of sites in London.”

Tom Marshall at selling agent Avison Young said: “Despite Brexit uncertainties, London remains a global investment capital, and this site was one of the largest and most high profile development opportunities offered in the London market in recent years. The partnership being announced today will deliver much needed affordable housing and social infrastructure to the local community.”

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