A developer has pulled out of plans to build hundreds of homes at two tube station car parks in Barnet.

Taylor Wimpey, one of the UK’s biggest housebuilders, has withdrawn from proposed schemes at Finchley Central and High Barnet underground stations.

Plans drawn up by the developer and Transport for London (TfL) involved building up to 300 flats at High Barnet and up to 560 at Finchley Central, with the latter scheme including a tower block rising to 20 storeys high in an area of predominantly low-rise homes. Both schemes would have led to the loss of most of the station parking spaces.

A spokesperson for Taylor Wimpey said: “Following discussions with all involved stakeholders, we have taken the decision to withdraw our involvement in the proposed schemes at High Barnet and Finchley Central tube stations.”

Following the developer’s announcement, a TfL spokesperson said the organisation was “assessing how best to move forward with plans at these locations”.

Local campaigners welcomed the housebuilder’s decision. Campaign group Hands off Finchley Central issued a statement saying: “We have never been against the provision of sorely-needed new housing, but we were horrified by the grossly intrusive scale of this development as planned, with its wholesale destruction of what makes Finchley Central a good place to work and live in. 

“We shall be keeping a close eye on Transport for London, to ensure that they don’t make the same mistakes again.”

Chipping Barnet MP Theresa Villiers described Taylor Wimpey’s decision as a “very big setback” for TfL.

“At the very least, it will mean a significant delay,” Theresa said. “So I believe that today’s news means that we are now much closer to beating these proposals and saving the station car parks.”

Barnet Labour’s housing and growth spokesperson Ross Houston said: “This is welcome news, but what’s needed now is a major rethink about these developments, including whether they should go ahead at all.”

The proposed schemes at Finchley Central and High Barnet are among a number of developments planned for tube station car parks across London.  

A TfL spokesperson said: “Unfortunately, Taylor Wimpey, the developer we had selected to work with us to deliver new homes and improvements to the area in both High Barnet and Finchley Central, decided they no longer wish to pursue this opportunity. 

“We are now considering our next steps, assessing how best to move forward with plans at these locations given the urgent need to tackle the capital’s housing crisis, and will continue to engage with Barnet Council, our commercial tenants, and the local community as we do so.”