Transport for London’s property company says it has added more than £1 billion of value to London since it was formed in 2023 — £447 million of it in the 2025/26 financial year.
The figures come from Places for London’s new “Our Contribution” report, published today. The company says the total comes from its development work and from managing and running the TfL estate, measured across five themes: transport, housing, economic growth, social impact and environmental performance. The 2025/26 year ran from 1 April 2025 to 31 March 2026.
Places for London is TfL’s property company, formed in 2023 when the transport operator’s property arm, TTL Properties, was rebranded. It owns and manages more than 5,500 acres of land across London, making it one of the city’s largest landowners, and plans to build 20,000 new homes by the 2030s, around half of them affordable. Profits from its work are reinvested into the transport network.
According to the report, Places for London has delivered more than 2,000 homes in its three years, with 58% affordable housing across its portfolio, and has started more than 4,900 on site.
It says it generated around £389 million of economic contribution in 2025/26 through investment, employment, wages and taxes, and supported around 12,000 jobs across its estate. It estimates that homes built by it and its partners produce £8 million a year in societal benefits, including better health from more stable housing, educational opportunities and cost-of-living savings for residents.
The report names schemes in Wembley, Acton’s Bollo Lane and the City of London, and refurbished shops at Paddington, Old Street and Whitechapel. The release gives London-wide figures only, with no borough breakdown.
On sustainability, the company says its new developments have on average 31% lower embodied carbon than the industry benchmark for residential schemes, and that schemes completing in 2025/26 include more than 2,300 square metres of sustainable drainage. Two of its schemes, Bollo Lane phase two and the office development at 10 King William Street, were pilots for the UK Net Zero Carbon Building Standard launched this year.
Its construction skills academy has trained more than 12,000 Londoners since 2019, and people who found work through its training in 2025/26 can expect a projected £66 million uplift in lifetime earnings between them. Over the past year it has also launched Places for Growth, a programme for small businesses looking for their first bricks-and-mortar premises. Its skills work this year included helping care leavers into their first jobs with Fatima’s UK Campaign, the charity of the Olympian Fatima Whitbread. Places for London says 95% of the tenant businesses on its estate are small and medium-sized enterprises.
Alongside the report it has launched a Sustainable Estate Framework, adopted in April 2026, which builds on the Sustainable Development Framework it published in 2021. The company says it gives a KPI-driven way to judge sustainability across the life of each project, under three pillars: diverse communities, healthy places and local economies. It applies first to capital projects worth more than £500,000, mainly retrofit and refurbishment of the existing estate.
Gordon Rogers, head of sustainability at Places for London, said: “‘Our Contribution’ demonstrates the scale and the value Places for London delivers by creating great places for people to live, work and thrive. The results are clear, we are helping London grow and giving new opportunity to people, business and communities, including those with most need, so the city can continue to be its best, with new homes and destinations that people want to be in.”
Howard Dawber, Deputy Mayor of London for Business, said: “Places for London is making a significant contribution to our ongoing work to grow the capital’s economy, deliver much-needed affordable homes and champion sustainable development. The Mayor and I are determined to continue to support local businesses, tackle the housing crisis, and create lasting economic growth across the city as we build a fairer and more prosperous London for everyone.”
The property company is one of several TfL-linked developments shaping the capital. A historic Highgate pub site is on the market for £2.95 million, and Wandsworth Council has been selling off empty family council houses instead of re-letting them.
