There are some cases where it is opportune for the Canal & River Trust to share in the additional value to be gained by actively participating in direct development of sites rather than simply selling to the private sector.
Whilst this can increase potential risk, it can also generate significant additional financial returns to the Trust's core business and ensure that the end product is of the highest quality achievable. In order to manage the additional risk, the Trust works in partnership with expert private sector developers who understand and empathise with the wider objectives of the Trust.
City Road Basin, Islington, London
City Road Basin is one of the largest pieces of open water in London (2.5 acres) and the Canal & River Trust own 8.5 acres of land around the basin. A joint venture with developer partners resulted in an approved masterplan comprising a mix of residential, leisure and community uses. The first phases of the development, including a residential tower and a public plaza adjacent to the canalside, has been built out with further phases planned.
Leeds Canal Basin, Leeds
This project is an award-winning development adjoining the Leeds & Liverpool canal in the heart of Leeds city centre, next to the main railway station. It has been recently completed by our joint venture ISIS Waterside Regeneration LLP and comprises a mix of high quality residential apartments, a new hotel and restaurants and bars.
The scheme will generate a significant income stream to the Canal & River Trust in the future and also boasts the following attributes:
- superb waterside public realm including sitting out areas for the pubs and restaurants
- fully restored graving dock
- new visitor moorings and boaters facilities
- award winning accommodation with a 'very good' sustainability rating