Birmingham-based SevenCapital is working up plans for a £200m residential development at its first scheme in London.
The developer hired former Berkeley Homes heavyweight Angus Mitchie to spearhead a drive in the capital earlier this year.
SevenCapital has subsequently secured its first site at the historic Archway Campus on Highgate Hill for an undisclosed amount. It bought the 3.65-acre Islington site from housing association Peabody.
Peabody previously pursued a number of different proposals for the former medical campus. It initially suggested a £150m scheme of 450 homes in 2014, however, proposals were revised and scaled back over time. Islington Council has identified the Archway Campus as a strategic site for housing, with capacity for 290 homes.
SevenCapital is preparing fresh plans for the site, which it said would complement the heritage and style of the former Holborn Union Building. The developer will retain and refurbish the existing buildings, adding new development and a public park.
Michie said: “This site is of historical and cultural importance within Islington so it is incredibly important to us that we bring it back to life in a way that celebrates that whilst also transforming it to be fit for use for current and future generations.”
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