The agreement will facilitate the building of new homes including 66 social rented housing units.

Welcoming the deal, HS2 Ltd’s Chief Executive, Simon Kirby, said:

This agreement demonstrates the momentum behind High Speed Two and underlines HS2 Ltd and the DfTs’ commitment to honour their pledge to social rented tenants affected by Euston’s redevelopment.

Agreement on these 66 properties completes negotiations to replace all 136 social rented properties in Camden affected by HS2, subject to planning permission being received. It follows a deal in August 2014 between the DfT and the London Borough of Camden to replace 70 homes that will make way for HS2.

The deal signed today is worth up to £47.05million.