Housing provider Peabody
has purchased the HMP Holloway site from the Ministry of Justice and plans to
build 1,000 new homes on the site.
The deal was secured with
the help of a loan from the Mayor of London’s Land Fund. The 10 acre site
will be developed in partnership with London
Square and will include 60% affordable housing
plus new retail units and green space.
Executive Brendan Sarsfield said: “We are committed to working
with LB Islington and the GLA to deliver an exceptional new housing scheme on
this historic site. We are pleased to confirm we will deliver 60 per cent level
of genuinely-affordable homes integrating existing Islington communities with a
“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.”
HMP Holloway closed in
2016 but has been earmarked for housing use since 2015. The provision of 1,000
new homes will have a significant impact on housing supply in this densely
populated part of London.
Work is expected to begin in 2022 with completion of the first homes in 2026.