March 6, 2012
Network Housing Group has exchanged contracts on 243 Ealing Road, Alperton, one of the largest London sites to be acquired by a registered provider since 2010. DE&J Levy advised the vendor.
As lead developer, Network will turn this 3.75-acre disused brownfield site into an exemplar urban mixed-use neighbourhood. The site has resolution to grant planning permission for 441 homes and 15,000ft² of commercial space.
The site forms the gateway to the Alperton regeneration area which will see 1,600 new homes delivered over the next ten years. It borders the Grand Union Canal giving the development a high-quality waterfront setting. Development is expected to start before the end of 2012.
Network Housing Group supported Brent Council in developing the Alperton regeneration masterplan, which was approved in 2010. The Group is also just completing Peppermint Heights, a landmark tower near the site providing 84 affordable homes and a nursery. Purchasing theEaling Roadsite cements the partnership between Brent and Network in delivering this important regeneration plan.
The site was purchased from Neptune (Ealing Road) LLP, who were represented by DE & J Levy.
Jeremy Stibbe, Network Housing Group’s Business Development Director, said: “I’m delighted that Network Housing Group has purchased243 Ealing Roadand will be the lead developer on this significant regeneration project. This demonstrates our commitment to remaining at the forefront of ambitious regeneration, quality urban design and delivery of much-needed new homes.”
Councillor George Crane, Lead Member for Regeneration, London Borough of Brent, said: “243 Ealing Roadis instrumental in Brent’s plans for the transformation of Alperton. Our partnership with Network Housing Group has been vital in shaping our vision of a place where people choose to live, work and invest.”
Matt Sharman from DE & J Levy added: “This is a complex site which offers an opportunity to provide a landmark scheme and open up the canal to greater public access. We are delighted to have achieved a sale on behalf of the vendor.”