Former chief executive of the British Property Federation Liz Peace is being lined up to chair the organisation overseeing the £10bn regeneration of Old Oak in West London, Property Week understands.

Liz Peace 636

Multiple sources close to the situation said Peace was the favourite to become chair of the Old Oak and Park Royal Development Corporation (OPDC) – a new role created by London mayor Sadiq Khan to help manage development in the area.

Following a review of the regeneration scheme last year, Khan said the project, which has the potential to deliver 25,500 new homes, was left in “a mess” by his predecessor Boris Johnson.

Peace ran the BPF for 12 years until 2014. She now holds non-executive roles at Morgan Sindall, Redrow, Howard de Walden Estates, Turley, Good Relations Property, Holtby Turner and EC Harris.

She is currently shadow-chair of the Government Property Agency, the organisation set up to manage the government’s property holdings.

She is also a Trustee at Peabody, the Churches Conservation Trust, the Architectural Heritage Fund, and chair of charity LandAid.

In the job description for the role, issued through recruitment firm Green Park, the GLA said the successful applicant would “work closely” with the mayor on the project and provide “strategic leadership” for the organisation.

The role required someone that was “politically astute, able to work with politicians and readily win the respect and confidence of senior stakeholders across local, regional and central government”, it said.

Peace declined to comment.