New Civil Engineer can exclusively reveal that MTR is in advanced talks with Canary Wharf group to join its bid for the High Speed 2 (HS2) master development partner role at Euston Station in London.
HS2 has confirmed Canary Wharf group is in the process of forming a consortium with the Hong Kong based rail giant.
Earlier this month New Civil Engineer revealed that Land Sec and Westfield, two of the players in the development partner race had dropped out, leaving three still in the mix.
Today HS2 Ltd has confirmed the news saying it had invited Euston Regeneration Partnership (led by Argent Related Services), Canary Wharf Group (forming a consortium with MTR Consortium Limited) and Lendlease Europe Holdings Limited, to “continue in in dialogue as part of the process to appoint a master development partner for Euston”.
MTR is world renowned for building, maintaining and operating rail systems and over site developments around the world. In London, the company has been awarded the concession for operating the new Crossrail line which will open in December 2019.
An MTR spokesperson said: ”MTR is very pleased to have entered into a joint venture with Canary Wharf Group to bid for the Master Development Partner role at Euston Station. We hope to bring in our substantial experience in the planning and integration of railway and property facilities to help build new communities at Euston and to regenerate the surrounding area.”
Despite the design for the over site development being in its infancy and with very little information on the size, location and value, by appointing a master development partner at an early stage HS2 Ltd said it wanted the developer to have the chance to influence the detailed design to get an optimum solution.
However any development built above the station would have to follow the usual local planning processes rather than to be included in the current or any future hybrid bills. This would include adressing issues like the amount of affordable housing, or the protected view from Primrose Hill to the City of London.
HS2 commercial development director Tom Venner said: “Euston is a site of local, regional and national importance. Making the most of the opportunity is essential, and the master development partner will play a key role in helping HS2 unlock the full potential of the site.
“I am delighted with the strength of the field. All three bidders have put forward their own visions for the future of the site and we look forward to exploring their proposals in depth as we move on to the next stage of the process.”