The site, just over the Thames from Hounslow, has been acquired for £158m.
The acquisition follows that of another 207 residential unit development opportunity in Teddington acquired from Hammersmith-based Haymarket Publishing. That 4.5 acre site was formerly the home of Pinewood Studios and is located on a prominent site overlooking Teddington Weir.
The Mortlake site which has been sold by AB InBev is in the London Borough of Richmond with a 200-metre River Thames frontage.
The site has an adopted planning brief that promotes a mixed use scheme which will deliver a major residential development, a new school, hotel, and other employment and leisure uses.
Kwek Leng Beng the Chairman of City Developments, said “We will be opening the planning and consultation process with residents early in the New Year. We hope to achieve planning consent in the first quarter of 2018 and to undertake the scheme in two phases.”
This comes a week after the acquisition of Teddington Film Studios’ riverside site by City Developments subsidiary Pinenorth Properties, where planning consent has been granted for 207 residential apartments. Demolition is underway with the first release of homes due next Spring (2016) with construction complete in 2018/19.
The Chairman Kwek Leng Beng says: “City Developments Ltd working with Dartmouth Capital has focused attention on the suburban London market in its search for best value.”