The council’s recommendation to select the firm as preferred development partner is set to be rubber stamped on 14 February.

Lendlease was up against rival bids from Morgan Sindall with Clarion Group; and Pinnacle with Starwood Capital and Catalyst

Over the next 20 years the Haringey Development Vehicle joint venture will drive construction of 5,000 new homes and a new town centre in Wood Green.

The development sites proposed for the first phase of regeneration are the former Cranwood care home in Muswell Hill; the council’s civic centre, Station Road offices and library in Wood Green; and the Northumberland Park regeneration area.

Haringey council leader, Cllr Claire Kober said: “This 50:50 partnership ensures the Council is involved in all decisions and crucially can ensure that a share of the profits goes back into other regeneration initiatives, affordable housing and funding the services we provide to residents.” 

If the decision to appoint Lendlease is approved a final decision on whether to establish the Haringey Development Vehicle is expected to be made by Haringey council’s cabinet in the summer of 2017.