Wembley project receives planning permission
The Bridges Property Alternative Fund and joint venture partner HUB have received a resolution to grant planning permission for a redevelopment project in Wembley, London.
The project will see what is currently a disused office block converted into two 21-and 26-storey towers.
The building will contain a total of 239 homes for sale or rent; two-thirds of the latter will be let at affordable rates. The homes will sit above a new community centre, public space, retail space and cycle storage.
Neighbouring businesses also stand to benefit from the project, with an improved streetscape planned as part of the development, and commercial units given the prime location. A new arcade at the corner of Park Lane and Wembley High Road should also help reduce high levels of pavement traffic caused by the current layout.
Planning for this project involved a 20-month consultation process with the local council and local residents. At the final planning committee where resolution for planning was granted, Brent Council commended Bridges and HUB for going to such lengths to take local views into account.
Simon Ringer, Partner and Head of Property Funds at Bridges Ventures, said: “We have always believed that property investment can help to address pressing societal needs. By responding to a clear challenge – the lack of affordable housing in London – the Chesterfield House scheme has the potential to support the regeneration of the Wembley area while also providing good financial returns for investors.
HUB has worked extremely hard to engage with local residents and ensure that the development will deliver tangible benefits for the community, and we’re very pleased that Wembley has recognised this.”
The story was covered by a number of trade publications, including:
Property Week (£)
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