Proposals for the 5.24 acre site include around 400 new homes as well as a Sainsbury's supermarket with a cafe and business start-up workspace. The scheme will also include improvements to Hornsey High Street. St James said in a statement that many of the new homes would be affordable.
The depot site has been vacant for many years and was one of a number of sites included in a portfolio of potential development sites released by Haringey Council in October last year as part of its wider regeneration of the borough.
"I am delighted that we have been able to secure a deal to work with Sainsbury's and Haringey Council to deliver an exciting and sustainable regeneration of this near redundant site," said St James chairman Sean Ellis.
"With our experience in the local area, I am confident that we can deliver a quality scheme that will regenerate this site, benefitting the local community by providing new private and affordable homes and new job opportunities," he said.
"We are delighted to be taking an important step closer to bringing a new Sainsbury's store to Hornsey and regenerating this key area of the High Street," said Sainsbury's development surveyor Lisa Poyser. She said that the new store would create around 120 new jobs.
St James and Sainsbury's said that they hope to submit a planning application to the Council in the late summer. Subject to planning permission, work on the site could start in the spring 2014.
