City & Docklands Property Group and Housing Growth Partnership (HGP) have announced an equity partnership to develop 208 homes, including 58 affordable homes in west London.
The site, known as North Kensington Gate, is on Scrubs Lane in the borough of Hammersmith & Fulham, roughly one mile from Willesden Junction to the north and Ladbroke Grove to the south east. It is a gateway regeneration site within the Old Oak and Park Royal Development Corporation (OPDC) regeneration area, just five minutes from the new Old Oak Common transport super-hub, which will link the Elizabeth Line and HS2, which will be the largest and best-connected station in the UK.
The development will also deliver some of the first homes within this regeneration area, contributing to OPDC’s overall target of delivering 25,500 homes in the next 20 years.
Housing Growth Partnership is investing £14 million equity in the deal, with lender Cheyne Capital Real Estate committing £73 million of development debt.
The scheme has been designed to deliver 208 one-, two- and three-bedroom homes, together with residents’ amenities that will include an onsite resident and business lounge, sky terrace and landscaped gardens.