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lookwestlondon is now the official news feed for Capital West London, the collaborative inward investment and trade venture for the seven West London Boroughs. Your favourite West London economic and development news feed is now on the Capital West London website.

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Inland submit Cavalry Barracks plans

Inland Homes have submitted plans for a 1,629 home redevelopment of the Hounslow Cavalry Barracks site.

Inland acquired the site in mid-2020, following an MOD process partly assisted by inclusion in the Capital West London opportunity pack. Inland say in their AGM statement issued on March 11 that they have submitted a planning application for 1,629 homes on the 36.7-acre site.

Designs by TP Bennett shown in a recent consultation included a mobility hub, workspaces, a cafe, a community hub, local retail, and space for performance events and markets, as well as a large open green space.

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Consent for Burnt Oak Savoy plan

EEH Ventures have been granted consent for the redevelopment of a former cinema and bingo hall in Burnt Oak into a 100,000 sq ft co-working and co-living scheme.

The conversion of the Grade II Listed former Savoy Cinema includes roof and side extensions, to convert it into a 99,987 sq ft 125 home scheme with a gym, library, launderette, cinema room, lounges, and a publicly accessible café at ground floor.

The existing roof to the building would be demolished and replaced with a new three-storey roof extension, alongside the building of a new seven-storey side extension on the northern portion of the site. There are  associated external alterations to the building, including repairs to the original cinema building with a light touch to the street facades, reinstating the main entrance and signage.

The proposal also includes improvements to the public space along Burnt Oak Broadway including new street tree planting and benches.

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National Apprenticeship Week Success at Uxbridge College and Harrow College

Harrow College and Uxbridge College (HCUC) celebrated a series of virtual activities for this year’s National Apprenticeship Week.

This included virtual presentation sessions from a range of apprentice employers, careers advice by video link and text, a virtual apprenticeship fair, and an open evening. There was also a virtual presentation delivered at Brunel University London. The week was complemented by two recent Highly Commended awards for HCUC Apprentices at the West London Business Awards, held separately the previous week by the regional chamber.

Employers and business organisations taking part in HCUC’s virtual apprenticeship week included HS2, Menzies Aviation, Willmott Dixon, and Higgins Partnerships. The event also explored how in the Covid era apprenticeships were a good option for school leavers.

HCUC Apprentices have also secured yet another round of successes in the annual West London Business Awards. For the seventh consecutive year, two Apprentices completing their training under HCUC Apprenticeship and Skills – the employer training arm of the college group – have scooped awards at the event.

Two Advanced Apprentices, Sally Sturgess, a Business Administration Apprentice at Anand Financial Architecture in Uxbridge, and Michael Westwood, a Mechatronics Maintenance Apprentice at Reach Printing Services in Watford, received Highly Commended Awards – both are based at Uxbridge College for their on-site and remote learning.

The awards, which this year were presented in a virtual ceremony in place of the customary black tie gala dinner, were announced in advance of National Apprenticeship week.

Harpal Lehal, Head of Apprenticeships and Skills at HCUC, the Employer Services arm of the college, said: “National Apprenticeship Week at HCUC this year has been a real success despite how challenging it can be trying to make virtual events as engaging as real ones. But all our speakers did a fantastic job and we were extremely pleased with attendance levels by parents and students. I’d like to say a huge thank you to all the employers who took part.

“I would like to congratulate Sally and Michael, and their employers Anand Financial Architecture and Reach Printing Services, and to thank West London Business for hosting these wonderful awards for the eighth year,

“As the largest college provider of Apprenticeships in London, with over 400 apprentices across 28 sectors, HCUC is proud to help shape so many students into star Apprentices, and our year-on-year wins in the WLB awards are testament to how successful our partnerships with employers across a broad range of sectors are. We are also pleased to have sponsored the ‘Resilient SME Innovator of the Year’ category of this year’s Awards.”

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Bedfont lakes potential sale

M&G Property is discussing a sale of the Bedfont Lakes office campus, it is reported.

CoStar suggests the sale price for the the 374,661 sq ft office development could be in the region of £115m. Private equity investor Henley is said to be in talks to buy the eight-building Hounslow campus.

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Former GSK building let to banking school

The Global Banking School has signed for nearly 70,000 sq ft in Two Greenford Square, the former GlaxoSmithKline building in Greenford.

The school will take 68,759 sq ft  in the Brydell Partners owned building, which is next to Greystar’s 1965 home Greenford Quay development and Ferroro’s UK headquarters. It will occupy the Atrium and East Wing of the building, leaving the 30,000 West Wing to be let.

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OPDC submits new draft Local Plan

The Mayor’s Old Oak and Park Royal Development Corporation (OPDC) has submitted a revised draft Local Plan to support the construction of more than 25,000 new homes and bring tens of thousands of new jobs to the area with a focus on land around the HS2 station at Old Oak Common.

With the potential to build a major new urban centre and a wide range of homes, work and amenities, the new proposals set the scene for massive new investment that OPDC hopes will fully exploit the unique connectivity offered by the new major transport hub, the only place where HS2, Elizabeth Line and Great Western Rail services meet.

Thousands of new homes are already being built, but OPDC says the revised Plan will help to accelerate and consolidate the building of a new urban district with affordable homes, jobs, public space and local facilities, by moving the focus around the new Old Oak Common Station – much of which is owned by the public sector, mainly High Speed Two, Network Rail and the Department of Transport.

Existing businesses in Old Oak North will be protected by designating key sites for long term employment. It is expected to deliver a quarter of a million square metres of additional industrial space over the next twenty years, encouraging new businesses to the area and helping existing ones to grow.

OPDC has been working with local landowners to prepare these plans and will continue to work closely with its three London Boroughs (Ealing, Hammersmith & Fulham and Brent), High Speed Two, the Department for Transport, Network Rail and the local community.

Alongside the revisions to its Local Plan, OPDC will shortly be submitting a bid to government for infrastructure funding support to drive forward regeneration, helping to fund new access roads, bridges and utilities.

The Plan will be considered by the Planning Inspector and the local community in a detailed consultation process over the coming months, and subject to the final views of the Inspector, is expected to be formally adopted by the end of 2021.

Sadiq Khan, Mayor of London said: “I welcome this important step forward for OPDC’s Local Plan, which complements my newly published London Plan to deliver much-needed affordable homes and jobs for Londoners. I look forward to seeing this Plan adopted and a healthy and inclusive new district emerge in this important part of west London.”

David Lunts, Chief Executive of OPDC said: “These new proposals make for a better and more deliverable Local Plan and with some 6,000 new homes already underway it builds on the momentum we have already established. By focussing on public sector-owned sites we can coordinate major regeneration at scale, fully exploiting the amazing potential created by the largest new rail station to be built in over a century here at Old Oak Common. Our aim though, is not just new homes and jobs; we are creating a desirable, exceptionally well connected and bustling series of districts for London where live, work, play is more than just a slogan.

“We will be consulting the community in the months ahead and, subject to the Planning Inspector’s approval, hope to see the Local Plan adopted before the year is out. In tandem, we aren’t wasting time, as we are working hard to prepare a bid for government infrastructure funding to push ahead quickly with the capital’s next big investment opportunity and start to see more of the affordable homes and new jobs so badly needed in this part of London.”

Liz Peace, Chair of OPDC said: “The OPDC Board was pleased to approve these plans and see them resubmitted to the Planning Inspector for the final stage in the Local Plan process. Delivering major regeneration at this scale is both complex and challenging, but this revised approach offers the best possible route for creating a sustainable, liveable new district for London.”

Images are early illustrative sketches to support the draft Local Plan, courtesy of OPDC

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Amazon chooses Ealing for first store

Amazon has opened its first UK Amazon Fresh grocery store in the Ealing Broadway shopping centre.

The 2,500 sq ft grocery store concept is Amazon’s first outside of North America and is designed to offer a “convenient and seamless shopping experience for customers”. It offers a till-free shopping experience – customers scan a smartphone app when entering and are charged automatically for what they carry with them as the exit the store. The store stocks own-brand items as well as branded products, and also serves as a place to collect and return goods bought online. The technology has been working at the firm’s similar Amazon Go stores in the States, which opened to the public in 2018.

British Land’s 400,000sq ft centre at Ealing Broadway also contains Primark, Marks & Spencer, JD Sports, Decathlon, H&M and Boots, as well as 130,000 sq ft of office space, home Carallon, Insights Software and British Land’s flexible workspace brand, Storey.

Darren Richards, Head of Real Estate at British Land, said: “We are thrilled to welcome the UK’s first Amazon Fresh store to Ealing Broadway. Ealing already benefits from fantastic transport infrastructure and is set to undergo significant transformation with the opening of Crossrail and £1 billion of wider investment that will continue to enhance its appeal.”

 

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Ealing’s green homes

Ealing’s green homes will give residents a healthier, more sustainable and cost-effective home for the future. That was one of the key messages from Ealing In London and Greystar’s webinar chaired by Pat Brown, the Director of the Centre for London, with Hill and HTA at last month’s Real Estate Live week.

Jo Mortensen, Ealing Council’s Climate Action programme manager introduced Ealing’s pioneering economic recovery strategy, ‘Greenprint’, which lays the foundations on what a future economic growth strategy might look and feel like for the borough. In January 2021, Ealing Council adopted its Climate and Ecological Emergency Strategy (CEES) with the goal of being carbon neutral by 2030.

Jo explained how, having led the West London boroughs’ bid to secure a £4.8million Green Homes Grant from government, the borough is now looking to implement retrofit programmes, deliver green infrastructure and low/zero carbon buildings and invest in active travel. Jo pointed out that retrofitting will also help create new employment opportunities for the west London economy.

“Homes represent 40% of carbon emissions in the borough right now …so more sustainable homes can help mitigate climate change and improve residents’ health by retrofitting them to a high standard,” she said.

Philip Browne, Housing development director and of Ealing Council’s wholly owned housing company Broadway Living, introduced BL’s interim development guide which has a focus on Passivhaus standards and the key themes of sustainability, healthy and affordable homes. Philip said, “In delivering our (housing) programme we want to focus on meeting as many of these key themes as possible”. You can view the BL development guide by clicking here.

Paul Fanning, Greystar development director, which is developing Greenford Quay discussed the flexible, sustainable and green elements of the development. Paul explained that the site has 26,000 acres of landscaped areas, and an energy centre and a heating system below the central square which has been landscaped over – helping to maximise land use. Commenting on Greenford Quay’s off -site modular construction, Paul said it had allowed, “less traffic and less workers on site helping to reduce social contact and reducing C02 emissions. We’ve worked out the building of Tillermans Court has helped save 26,000 tonnes of CO2 over the building’s life time, equivalent to planning 200,000 trees.”

To listen to the full webinar please click here.

The panel were also joined by:

  • Emma Fletcher, Director, Hill
  • Richard Foley, Director, HTA Design
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International SOS recommits to Chiswick Park

International SOS has recommitted to Chiswick Park, with a new lease set to keep the health and security services business’ headquarters at the Gunnersbury location until 2031.

The company occupies 43,639 sq ft in Building 4 at the park.

Arnaud Vaissié, Co-founder, CEO & Chairman of International SOS, commented: “Our London office is critically important to us as our joint HQ and home to one of our 26 Assistance Centres. Since moving to the Chiswick Park site in 2012, we have been continually impressed with Enjoy-Work’s dedication to safety and sustainability. We are proud to make this long-term commitment to our people, our clients and to London.”

“We are delighted to continue to build on our long-term relationship with International SOS. This deal reinforces the appeal of a work environment that offers more than just an office, with plenty of outdoor space and onsite amenities available for workers. We are pleased that International SOS remains on our Campus to grow and develop further as a company “, said Matt Coulson, CEO Chiswick Park Enjoy-Work.

Chiswick Park covers 1.8 million sq ft of office space spread over 12 buildings. The Campus is home to some of the world’s leading companies including Pernod Ricard, IMG, Starbucks, Discovery and Danone.

The Park also houses over 45,000 sq ft of retail including a gym, restaurants, convenience stores and pop-up stores.

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Fit Out UK named West London Company of the Year

West London Business has named Fit Out UK as West London Company of the Year in their West London Business Awards 2021.

They were also named Park Royal Business of the Year. The interior fit out contractor and relocation services provider responsible for the fit out at Habitat, Westfield (pictured), and based in Park Royal since 2006, Fit Out had the chance to demonstrate their innovative capacity at the start of the Covid pandemic when they were contracted to build, in just 14 days, a Tesco Express Supermarket adjacent to London’s Nightingale Hospital, to serve NHS staff. Fit Out achieved this in just 9 days. The project also achieved a 15% cost reduction (compared against model cost), whilst sending zero waste to landfill, and attaining a 99% Health & Safety audit score. This led to a contract with Tesco to deliver over a hundred Express stores in the next year.

Jamie Mason, Commercial Director of Fit Out UK, said of the win: “We are delighted to be named West London Business of the Year. A huge thanks to everyone at Fit Out UK and our wider supply chain who have worked tirelessly throughout what has been a very challenging year.”

The eighth edition of the awards once again recognised individual achievements; with Abbas Lalljee of Reach Food Service being named West London Business Leader of the Year and Patrick Flannery of Flannery Plant Hire awarded the Lifetime Achievement in Business Award. Mike Langan of Hillingdon Chamber of Commerce was recognised with a special award for Services to the Business Community.

Another notable winner of the evening was Perivale based Everglade Windows who took home the Manufacturing/Reprocessing Business of the Year award for the fourth straight year. The win takes their tally of WLB Awards overall to six including West London Company of the Year in 2018.

Andrew Dakers, Chief Executive of West London Business said: “In these tough times for the business community the West London Business Awards 2021 once again provided a fun filled evening where everyone could relax a bit and discover what their peers have achieved in 2020. The best practice and innovation that has been pioneered, and we are able to showcase, is truly remarkable.”

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Yoo Capital and Capital West London host debate on preserving London’s brilliance at Real Estate Live UK

The role of real estate in protecting London’s world-leading reputation was discussed at Real Estate Live UK in February, at a session hosted in partnership with Yoo Capital and Capital West London.

Chaired by Pat Brown, Director of Central, the session looked at how landlords could work in partnership with tenants to protect the capital’s leisure, hospitality and creative businesses – which have been so instrumental in creating London’s iconic and world-leading reputation.

The session discussed the impact the coronavirus pandemic had had on those industries and, noting how they will be key to the recovery of major cities, how landlords and the real estate sector could work with creative and cultural organisations and tenants to ensure London remained a place not only to work and live in, but an inspirational and aspirational destination as well.

Speaking as part of the debate was Yoo Capital’s Managing Partner Lloyd Lee, Bill Boler, Partnerships Director at West London Business, Westminster City Council’s Director of Place Shaping and Town Planning Deirdra Armsby and Angelique Schmitt, Co-Founder and CEO of Kindred Studios.

The session can be watched back on YouTube here.

More information on Real Estate Live UK, which returns from 14-18 June, can be found by visiting www.realestatelive.co.uk

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Shaping Greener Places

Cities and towns across the UK are seeking to reduce carbon emissions and create healthy environments for residents, businesses and visitors. Though significant improvements to emission levels have been seen throughout lockdown, the challenge now is to retain those improvements as we seek to revitalise our town centres. With the continued rise of online retail, e-vehicles will be still more important to our green recovery and the healthy streets campaign.

A session during Real Estate Live in February led by Hammersmith BID discussed these issues and some of the ways they are being targeted in Hammersmith town centre.

The Parcels Not Pollution service, enabled by  a consolidation centre and a fleet of e-bikes, is one of the BID’s flagship air quality improvement schemes. Patricia Bench of Hammersmith BID told the event that it has carried nearly 4000 parcels since its launch in September 2019, and estimates it has saved nearly 800kg of CO2 emissions. The service takes deliveries to a single central point, then ferries them by bike (some with trailers for larger parcels) to the final delivery address.  It started just delivering to commercial addresses in the town centre, but added domestic deliveries when the pandemic hit in early 2020.

The service means parcels are not delivered by many (typically diesel) vans, so also reduces congestion as well as improving air quality, and as David Cockrell of e-cargobikes.com told us, is unsurprisingly set to expand to at least one neighbouring borough.

The approach was welcome to TfL, whose Libby Gibson told the event that freight traffic was responsible for 30% of the NOX emissions in the capital. We face the prospect of the pandemic making this worse, by increasing the amount of home delivery. TfL has a number of programmes active – to work with the logistics sector to reroute diesel traffic away from town centres, and by encouraging innovation through their Freight Lab Challenge. The reopening of the economy later in 2020 will be an “important habit forming moment”, she warned. It’s certainly something we need to get right.

The BID have a range of other schemes designed to make the town centre greener and cleaner – something a survey of town centre users suggested was a top priority. As Sean Moran of Helix Property said, making the area cleaner, more secure, and more pleasant to be in makes it a better place for businesses. Some of the other measures he’d overseen – such as LED lighting and decentralised air conditioning – had produced a £300,000 saving across his buildings.

Cllr Wesley Harcourt, from Hammersmith & Fulham Council described their approach to installing EV charging points, converting their own vehicle fleet to electric, the “City Tree” carbon scrubbing planting, and the no-idling programme were all targeted at making a difference. The borough has two of the top spots for pollution in the capital – the A4 and the A40 – so the action is needed.

Crucially, all these ideas and programmes can easily be replicated in town centres across the UK – so anywhere can start its journey to cleaner air by learning from Hammersmith.

Watch a recording of the session here. For more information on Real Estate Live UK, visit the event website.

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Hanwell Station restoration work complete

Grade II listed Hanwell station will be removed from the Heritage at Risk Register by Historic England following extensive renovation work by Transport for London.

The nineteenth-century station, which will be served by the Elizabeth line, has been upgraded to meet modern standards while retaining its historic character. The station is now more customer friendly with improved accessibility and customer information, and new spacious facilities.

The original station buildings have been repaired, re-painted and restored to the traditional Great Western Railway cream and golden brown colour scheme. Historic signs on the platforms have also been restored, and on the staircases, timber handrails and cast-iron balustrades have been given a new lease of life with lighting upgraded to LEDs fitted in the traditional hanging lanterns. A derelict building has been turned into a new, spacious waiting room with beautiful period features, while an original waiting room has been refurbished to match.

Hanwell Station was originally opened by the Great Western Railway in 1838, although the buildings on site today date from a station rebuild in 1877. The station was Grade II listed in 1972 but was already falling into a poor state of repair at that point. Despite having had some work done in 2000, deteriorated signage and peeling paint on platform canopies and buildings showed that the station was in need of a lot of work when TfL and its operator MTR Elizabeth line took over the management of the station in 2017.

In 2020, London Borough of Ealing pedestrianised the area outside of the station to create a paved forecourt, improving access to the station for those walking and cycling. Both Ealing and Historic England provided advice and added expertise on the station conservation project.

Following the completion of the improvement works, Historic England and London Borough of Ealing have agreed Hanwell can be removed from the Heritage at Risk Register, and the change will be reflected in the new register, which is due to be published in October.

Peter Herridge, TfL’s Station Enhancement Manager, said: “Our team, including colleagues from our operator MTR Elizabeth line, has worked closely with the Railway Heritage Trust, the London Borough of Ealing and Network Rail to carry out these improvements while preserving the rich heritage of this 19th century station. Our friends at Didcot Railway Centre also provided some invaluable guidance and inspiration to help us with the finishing touches.

“It was a real collaborative effort and delivered not only step-free access, but vital new facilities that customers will benefit from for years to come. Working with the local borough’s conservation officers in Ealing, we were able to get consent to undertake this restoration. Getting to the stage of the station being removed from Historic England’s Heritage at Risk Register shows that this work was well worth the effort.”

Emily Gee, Regional Director for Historic England in London and the South East, said: “Hanwell has been given a new lease of life thanks to the careful restoration and improvement works by TfL over the last few years. The Victorian character of the station really shines through and we hope all users appreciate the new spaces and intricate details now revealed for many years to come.”

Julian Bell, leader of Ealing Council, said: “Preserving Ealing’s outstanding heritage has always been a priority for us and I am delighted to have been able to work alongside our partners TfL to ensure the historic features of Hanwell station are protected long into the future.

“Not only has the renovation eliminated any risk of losing this valuable local heritage, the station has also been upgraded and modernised with new lifts, waiting room, toilets and a refurbished platform. Working with TfL, we have also completed work to improve access to the station for those walking and cycling by creating a paved forecourt.

“We will continue to work with TfL to improve transport options for local commuters, improve access and reduce journey times wherever possible.”

These upgrades have been part of a wider programme of accessibility improvements across the TfL Rail network in preparation for the Elizabeth line, which will bring an extra 1.5 million people to within 45 minutes of central London. As well as opening up more of the transport network for those with accessibility needs, the transformational railway will reduce journey times, create additional capacity and protect social distancing.

Hanwell has also benefitted from a doubling in service frequency, moving from two to four trains per hour in either direction and shorter, old trains have been replaced with longer, modern, more spacious Elizabeth line trains providing a significant increase in capacity.

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Protecting London’s Brilliance

Capital West London and Yoo Capital are hosting a session during Real Estate Live UK focussed on the role of real estate in preserving the character of the capital city.

The free online event will take place at 12 midday on February 22nd, 202. It will discuss how London’s leisure, hospitality and creative businesses have been instrumental in creating the capital’s dynamic, world-leading reputation. It will look at the impact of the coronavirus pandemic on these sectors, and see how they can play an important role in London’s resilience and recovery.

Speakers including Lloyd Lee of Yoo Capital, Bill Boler of West London Business, Deirdra Armsby of Westminster City Council, and Angelique Schmitt of Kindred Studios, will examine what the role of the real estate industry could be in supporting these sectors over the coming months and years, and how landlords can work in partnership with tenants to ensure that London remains an inspirational and aspirational destination.

Register for the event

 

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Hammersmith BID to lead debate around shaping greener places at Real Estate Live UK

Hammersmith BID is to lead the debate around creating greener towns and cities at Real Estate Live UK in February.

The virtual conference brings delegates together through free-to-attend webinars, to hear  leading names and experts from the public and private sectors discuss issues facing the property and regeneration industries.

On the opening day of the week-long event – February 22nd at 2pm – the BID will present a panel session: Shaping greener places: From emissions to e-bikes.

The session, which will be chaired by Nicola Mathers, CEO at Future of London, will discuss the clean air imperative and showcase the BID’s Parcels Not Pollution zero-emissions delivery service as an exemplar of best practice. Launched 18 months ago, the service has delivered more than 3,000 parcels by bicycle courier, reducing emissions and congestion in Hammersmith town centre by removing freight vehicles.

Expanding the areas covered by the Parcels Not Pollution delivery service is one of the ambitions set out by the BID in its Business Plan as it seeks a further five-year term.

Initiatives aimed at reducing carbon emissions, investing in green infrastructure and public realm improvements are part of a core suite of continued and new projects.

BID Director Patricia Bench said: “The BID is committed to the green economy, with a focus on enhancing air quality to create a sustainable town centre that is both welcoming and a desirable place to do business.

“As we look towards a green recovery, it is imperative that we build on improvements to air quality achieved over the past 12 months. Working collaboratively to develop innovative ideas to combat emissions will be key and I look forward to being part of the wider discussion at Real Estate Live.”

The panel session at 2pm on Monday 22 February, includes speakers Patricia Bench, Hammersmith BID Director, Livia Caruso, Hammersmith BID Business Engagement Manager; Councillor Wesley Harcourt from Hammersmith & Fulham Council; Sean Moran of Helix Property; David Cockrell, e-cargobikes.com; and Libby Gibson, Transport for London.

Register for the event

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Heathrow Logistics Park on the market

Blackrock are reported to have put their Heathrow Logistics Park on the market with a target price of around £103m.

The fully-let park developed in partnership with Graftongate provides 316,000 sq ft of warehouse space across four units let to Royal Mail, JAS Forwarding, Airbase GSE and James Cargo Services.

The scheme has a BREEAM rating of ‘Very Good’ and an Energy Performance Certificate rating of A.

 

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WLA to launch 5G West

In February 2021, the West London Alliance will be kicking off the 5G West Project. This new initiative aims to accelerate the deployment of 5G in West London, delivering the benefits of this new technology more quickly to business and residents.

5G West will focus on inclusive growth and developing collaborations with the private sector to prioritise and encourage investment into communities which are a risk of being left behind or excluded from new services. We will be working to direct investment into better connectivity which will remove network barriers to residents accessing online healthcare, education and well-being services. It will also broaden the range of employment opportunities available for home workers.

The project will create a powerful new analytics tool – the Connected Map. The Connected Map will be developed in line with practices created at the Department of Culture, Media and Sports’ (DCMS) national flagship project – West Midlands 5G (WM5G).

Together with existing coverage plans from mobile network operators, the WLA Connected Map will be a powerful tool to accelerate the deployment of 5G across West London, helping to close existing 4G coverage gaps. The Connected Map will illustrate the true picture of digital infrastructure, enabling local authorities and mobile network operators and other investors to review their priorities together. This will include innovation with public and private 5G networks in multiple sectors across West London to support the delivery of the WLA Build and Recover Plan.

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Patrizia buys in Park Royal

Patrizia, the German build-to-rent investor, has completed the forward purchase of one of the buildings in Fairview’s Regency Heights development in Park Royal.

They will buy the 16 storey, 102-unit residential tower for €45 million (£40.3 million) on behalf of one of its institutional clients.

Once finished in spring 2021, the 6,800 sqm tower, which is part of the Regency Heights development in Park Royal, will contain a mix of one-, two- and three-bedroom apartments across 16 floors. Regency Heights is on the edge of Park Royal, close to Hanger lane.

Phil Irons, Head of Transactions for the UK and Ireland at Patrizia, said: “There is a big demand imbalance of affordable residential housing which is expected to persist for the foreseeable future, in the UK. Plus, investors are likely to increase their allocations to residential assets, as an attractive substitute for currently low yielding fixed income. In addition, rent collection in the residential sector has remained robust throughout the COVID-19 pandemic and we are confident that this latest investment in London will deliver strong, reliable returns to our investors.”

Phil Irons added : “What sets us apart in the residential space is that we operate and manage many residential assets ourselves thanks to our local experts on the ground.”

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Fruition progresses plans

Fruition Properties has announced plans for two West London schemes.

In Sudbury Hill, in Harrow, Fruition Properties is currently developing plans for a 45-apartment development in near the John Lyon roundabout junction. The project aims to be sustainable through the use of modular construction, green walls and renewable technologies.

A planning application is expected to be submitted by April 2021.

Meanwhile, in Kensal Green, the firm is working on a nine-home scheme of six “boutique” flats and three mews homes.

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