Argent's joint chief executive Roger Madelin today backed Boris Johnson's new urban agenda for London but said if key principles are not followed it will only 'achieve 1% of what it sets out to do'.

Mayor of London Johnson at a breakfast meeting at MIPIM today said London's new urban agenda would be design led, and aim to reinvigorate outer London boroughs and its transport system.

It will look to rejuvenate green spaces, declutter London's streets particularly Exhibition Road and aim to reduce London's carbon emissions.

However, Argent's Roger Madelin, who said he hated 'mediocrity, insincerity and misuse of information, said to achieve any of what is proposed London must focus on ensuring the government commits to transport infrastructure investment. He advised public bodies to accept that land had 'zero value' and avoid selling their freeholds in case the developer 'gets into trouble'.