Finsbury Park’s Woodberry Down regeneration project has been named London Project of the Year at the prestigious annual RICS construction awards.

The 30-year project, which is led by developer Berkeley Homes, began in 2005 and involves demolishing 1,980 homes on the estate to build 5,500 new ones - with 41pc for social renting and shared ownership. Two-bedroom penthouses sell for about £1.5m.

RICS judges praised the team behind Woodberry Down, which beat 53 other projects, for “not only regenerating the local area but also building a genuine community, actively welcoming new residents and involving local people in the minutiae of design details”.

Chair of the judging panel Hugh Kemsley said: “The team behind Woodberry Down should be incredibly proud of successfully taking on the regeneration of the local area with integrity and a genuine desire to improve not just the physical environment, but also residents’ economic aspirations and social wellbeing.”

The project will compete against other regional winners at the national RICS awards grand final on November 2.