CAPITA, that new local authority, says: "Next stage of Brent Cross Cricklewood regeneration project announced"

"The next stage in the Brent Cross Cricklewood regeneration project begins today [10 March] as the London Borough of Barnet seeks expressions of interest from investors and developers who wish to work in partnership with the Council and the owners of Brent Cross Shopping Centre, Hammerson and Standard Life Investments, to deliver its largest regeneration project, Brent Cross Cricklewood.

"With plans for the comprehensive regeneration of the area boosted by planning authority approval in January 2013, the Council now wishes to appoint a partner to lead the delivery of the Cricklewood area – the land to the South of the North Circular Road. It will accommodate up to 7,500 new homes, significant commercial space, major parkland improvements and new public realm, with dramatically improved connectivity across the area.

"The Council has today published a Prior Information Notice in the Official Journal of the European Union (OJEU), notifying potential partners it intends to start the selection process for a partner in the summer of 2014. This preliminary stage allows the Council to identify interested parties so that an informed decision to commence the search for a partner can be made.

"Councillor Richard Cornelius, Leader of Barnet Council, commented:

"With the London property market showing strong signs of recovery, this is the perfect time for the Council to attract significant investment into Barnet. We are very excited about seeing the scheme delivered over the next few years, providing the new homes, jobs and improved community facilities residents wish to see. This initial stage will provide valuable feedback as we continue to finalise our requirements and ensure we are attracting the strongest field of partners possible."

"The Council’s joint venture company, Re, will be receiving expressions of interest over the next couple of months, before seeking Cabinet approval to commence the search in summer 2014. A 15-20 year delivery programme is envisaged with a partner being appointed during 2015 and homes being available for occupation from 2020, alongside the new environment to the North of the North Circular Road and around Brent Cross which is being delivered by Hammerson and Standard Life Investments."

"WHAT NEXT" [said by Capita without irony]