Council And Yoo Capital Unveil Camden Film Quarter Plan
An area to the west of Kentish Town is set to become a hub for the film, creative and cultural industries after Camden Council confirmed a deal with mixed-use developer Yoo Capital.
The partners will create a masterplan for the redevelopment of land that currently houses the Holmes Road Depot and the Regis Road Recycling Centre, Camden Council said.
Yoo said plans for a major film quarter in Camden would "supercharge the UK’s creative industry" after it acquired the land from Camden Council, which has been running a consultation on proposals for regeneration of the area.
The council aims for the comprehensive redevelopment of the Regis Road Growth area, to include film and television studios, post-production and creative office space, as well as residential development, education and exhibition space.
Yoo Capital said the ‘Camden Film Quarter’ would build on the UK's success in broadcast and film and provide "much needed space" for the industry to expand. The acquisition is the third for its Yoo Capital Fund II, the first in a series of UK real estate funds led by Yoo Capital and Astarte Capital Partners focused on London.
The masterplan will aim to deliver the objectives of the Kentish Town Planning Framework to create a mixed-use neighbourhood that has industrial, commercial and creative activity, alongside new homes and infrastructure to support the local community. Detailed proposals for planning are expected in 2024-2025.
The project will include around 2,000 new homes, mixing new affordable housing and replacing the homes currently located at Holmes Road, as well as providing new green and open spaces and better connections from Kentish Town to Gospel Oak, new council waste and recycling facilities, plus offices and workshops to replace facilities at Holmes Road.
“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,” Camden Councillor and Cabinet Member for New Homes, Jobs and Community Investment Danny Beales said.
“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,” Yoo Capital Managing Partner Lloyd Lee added.
To date, Yoo Capital has invested over £2.5B in Central London since it was founded in 2010 by international property entrepreneur John Hitchcox and real estate veteran Lloyd Lee.
