At a Justice Committee meeting on Tuesday, Prisons Minister Rory Stewart announced that a bidder will be in place for the Holloway site by the end of the year.
Stewart said that the prison population was likely to increase and the Holloway site sale would provide funding for new prisons to cater to that demand.
Deputy Director at the Centre, Will McMahon responded to the announcement:
In November last year, the Government seemed confident that a preferred bidder would be announced in the Spring. Now we are told it will be the end of 2018, more than three years after the sale was announced.
Clearly, a combination of Islington Council's robust planning guidance, the faltering housing market and the insistence of the local community that it has a say in what is built on the site, has put off those seeking to make a quick financial killing at the expense of the local community.
The delay opens the way for the community, the Council and investors who seek a long-term return to come together to create a plan that would ensure the council housing and community resources are at the centre of any development.
The video of Stewart's announcement can be found below. Sorry about the formatting issue. That's down to the code supplied by the Parliament website, not us.