The land deal is the first to be awarded using the Mayor’s London Development Panel of house builders.

Redrow will now work with the London Borough of Barnet to develop the scheme to submit plans in the first half of next year, following a public consultation.

The deal allows the Mayor’s Office for Policing And Crime to invest in building a world-class police training and operational facility on a smaller part of the site.

Mace has the £35m contract, which involves demolition of existing buildings and construction of two buildings, with one up to four storeys in height. Architect on the project is Bennetts Associates and work is due to start early next year.

Redrow’s plan for the 22ha site is to create  a thriving new neighbourhood with cycle routes, shops and a primary school and nursery, as well as a substantial amount of green open space.

Jane Bond, director of property services for the Metropolitan Police, said: “We have secured the best possible deal for the site that will deliver much-needed new homes for Barnet and London while retaining sufficient land with funding to provide new policing facilities on the Hendon estate.”

The final scheme will be designed by RIBA Stirling Prize winners Fielden Clegg Bradley, who were responsible for Accordia in Cambridge, the only housing project ever to win the prize.