Stanhope, Mitsui Fudosan and AIMCo have exchanged contracts with Peabody who will acquire 142 new affordable homes in two new buildings at Television Centre in White City.
The buildings form part of the wider Television Centre development which will eventually have around 950 homes in total. Stanhope is also the development manager for the JV.
Designed by Maccreanor Lavington Architects, the new buildings will replace the existing former BBC multi-storey car park on Wood Lane, W12, opposite Westfield. The new buildings will provide 71 London Affordable Rent, 34 London Living Rent and 37 homes for Shared Ownership.
The existing car park will be demolished in 2021 with construction starting in 2022, and delivery expected in 2024. As well as the homes, the project will provide new public realm and retail space fronting Wood Lane. The retail will be retained by the JV. Peabody will be responsible for managing the homes when completed.
The JV is working closely with Transport for London, who own the adjacent arches below the elevated Hammersmith & City line, to help improve the wider area for the local community.
Jonathan Trout, Property & Commercial Director at Stanhope said “We are delighted to have exchanged contracts with Peabody and are looking forward to delivering much needed affordable homes for residents in Hammersmith & Fulham. Peabody share our long-term commitment for the area and we look forward to bringing forward the next phase of the project in due course.”
Simon Barry, Regional Development Director at Peabody said “This represents a fantastic opportunity to deliver high quality affordable homes in an excellent location. We have been closely involved through the early stages of design and look forward to working alongside the JV to help create great place to live within a thriving community in West London”.