We exchanged contracts for the purchase of this project in April 2019. The site has consent for the construction of 32 residential units over 21,000 sq ft of commercial space and is currently used as Europcar's main depot in South West London
Heads of Terms have been agreed with a major Aparthotel operator, for lease of a 165 bed hotel, subject to planning being granted for this use. We also have three major food retail operators interested in the ground floor retail space. Europcar wish to remain in the redeveloped premises and have confirmed they would like to take at least 20,000 sq ft of basement space for car parking along with a small ground floor office.
We have submitted a pre‐application for a 95,000 sq ft mixed use scheme incorporating Aparthotel, Retail and Car Hire use and intend to submit a full planning application for the scheme shortly. The project is a Joint Venture with a Family Office who specialise in Real Estate Investment. A CGI of the front elevation of the proposed scheme is shown below. Gross development value for the project is expected to be around £45m.