This site was acquired in late 2019 in Joint Venture with a family office. It benefited from a consent for the construction of 32 apartments over the existing commercial premises, which delivers around 42,000 sq ft of space. It is currently used as Europcar’s main depot in South West London.
It was clear from the outset that the extant consent failed to maximise the value of the site, and this is what drove our interest in it. We have submitted a planning application for a scheme of over 100,000 sq ft, incorporating a 145-bed aparthotel, basement and ground floor space for Europcar, 6,000 sq ft of office space and 8 affordable residential units.
We pride ourselves on working with the local community in all our developments. In this scheme, we have worked with the Council to ensure that our development supports their aims and aspirations. Through pre-application feedback, we have modified the design and other aspects of the scheme to reflect feedback from and discussions with planning officers.
We have signed Heads of Terms with a major aparthotel operator and intend to forward fund the scheme via a sale to a pension fund investor once planning is granted.
We have worked hard to incorporate sustainability into the scheme while keeping an eye on the benefits that can be delivered in terms of energy savings to the users of the completed scheme. We aim to deliver one of the greenest commercial buildings in Europe, which serves to make the scheme even more attractive to investors seeking sustainable investment opportunities.
Phase 1 - Spring 2021
February 25, 2021