The Chancellor confirmed in the budget that the Government has agreed in principle to transfer publicly owned land at Old Oak in west London to the Old Oak and Park Royal Development Corporation.
The move puts OPDC in charge of the Department for Transport owned land around the Old Oak depot, and gives it significant leverage in discussions around the plans for the regeneration of the area around the HS2/Crossrail interchange.
The Mayor of London, Boris Johnson, said: “The commitments made in this Budget are hugely significant and a major step forward for London. George Osborne has given us the green light … to completely regenerate a key part of west London.”
The move gives OPDC full planning and development control to drive forward the UK’s largest regeneration site and create a new part of the London with, hopes the Mayor, 25,500 homes and 65,000 jobs.