Telford Homes snaps up 270-home site near Wembley
November 06, 2018 – Telford Homes has bought part of a resi-led mixed-use development site near Wembley in London for £28m.
The Greenford scheme, owned by developer Greystar, on the banks of the Grand Union Canal has planning consent for 1,965 homes along with retail space, restaurants and cafes, leisure facilities, flexible work space and a two-form entry primary school.
Around 70% of the homes will be delivered as build-to-rent by Greystar ,the remainder are for individual sale and affordable housing.
Telford Homes has acquired part of the site to deliver 194 homes for individual open market sale at an average selling price of circa £500,000 and 84 affordable homes for shared ownership.
The London house builder intends to start work on site in mid 2019 with completion anticipated in 2022.
Jon Di-Stefano, Chief Executive of Telford Homes, said: “We are delighted to have exchanged contracts to acquire our first site in the London Borough of Ealing.
“We have an excellent relationship with Greystar which has allowed them to place their trust in Telford Homes to deliver an important part of this flagship scheme.
Mark Allnutt, Greystar Senior Managing Director, UK said: “Greenford is a strategically significant site for Greystar and the location for an exciting mixed-use, rental-led housing development. Telford Homes share our vision for a dynamic canal side neighbourhood and we look forward to working together to create a vibrant community in west London.”