The Wembley Regeneration Plan
By 2030, Wembley will become a national and international destination, a key contributor to the London economy and the beating heart of the London Borough of Brent. It will be a world class destination, an inspiration of sporting and architectural excellence and will boast a complete range of high quality hotels, leisure, commercial, residential and retail spaces, all in a contemporary, lively, and distinctive setting. Wembley Stadium plays an important role in the development of the area, as it is a major venue for world class events, attracting millions of visitors each year.
In 2004 the London Borough of Brent granted outline planning permission for the major mixed-use regeneration scheme covering 42 acres of land surrounding the new Wembley Stadium, with Quintain Estates and Development plc the lead developers for the project. The £2.5 billion regeneration scheme is projected to bring jobs to thousands of people living in deprived local neighbourhoods, and is expected to see Brent become a highly sought-after place to live. The regeneration plans are also expected to bring in £140 million towards local infrastructure spending; these plans will feature the following:
- Planning permission has been grated for a total of 6,955 homes at Wembley Park, of which 995 homes have already been completed and occupied and a total of 4,874 homes will be built to rent
- 38% will be affordable
- 487,000 SQFT of leisure and entertainment facilities, including a multi-screen cinema
- 587,000 SQFT of new retail, restaurants & bars
- 910,000 SQFT of office and commercial uses
- Seven acre public park
- A new luxury Hilton hotel
- Around 8,500 permanent new jobs
Wembley Park will be the biggest build-to-rent site in London, overtaking a development of 3,000 homes at East Village, Stratford. Saunders goes onto state that London is severely undersubscribed with regards to the demand for new homes.
Speaking about the first phase of the development, Muhammed Butt, Labour leader of Brent council, said: “To have 3,000 new homes under construction in one location this year shows just how in demand Wembley Park is as a place to live and it is comforting to know that with professional management in place, we won’t have a single rogue landlord.” A spokesperson for Brent Council said the development would "accelerate the transformation of Wembley" and provide "the significant regeneration which the area needs".
Max James, chief executive of Quintain, is confident that the development will “the delivery of thousands of new homes, jobs and a fantastic new park in this prime location next to the iconic Wembley Stadium.” He continues, “We are excited to be playing such a pivotal role in creating the next chapter of this great city. We are creating a vision for Wembley which will truly fulfil its global heritage as the most famous sports and music destination in the world, now combined with modern urban living.”