More than 500 homes and 20,000 square foot of retail and commercial space could be built on an industrial estate in Southall if a future proposal is given the green light.
A £200 million joint venture deal to build around 550 homes in Merrick Road, next to Southall station, was signed by Network Homes and Stanhope plc on Monday (February 12).
The 350,000 square foot development, which would be built in the Southall Housing Zone, would comprise of 180 homes for shared ownership and affordable rent, a Network Homes spokesman said.
Development plans include 20,000 square foot of retail, commercial and flexible workspace for small local businesses and start-ups to “increase employment opportunities for local people”.
David Gooch, commercial director at Network Homes, said the development would help trigger the “major regeneration” of a key area of Southall.
He said: “This joint venture is an exciting opportunity to transform a large, poorly-used site into high-quality housing for local people, including a range of affordable homes.
“Crucially, our development will help trigger the major regeneration of a key area of Southall, close to the town centre and Crossrail station.”
The scheme will use a combination of traditional build and modern methods of construction, with elements such as bathrooms, balconies and panelling factory-built before installation on site.
Network Homes suggests the development in Merrick Road will act as a “gateway site”, helping to trigger the “transformational regeneration” of Southall over the next decade.
The development, which is in line with Ealing Council's aims for the area's regeneration, will be close to Southall Crossrail station and will be less than 10 minutes away from the town centre.
A planning application is expected to be submitted in spring 2018. If planning permission is granted, work will begin in early 2019 and the development will be completed by mid-2021.
David Camp, chief executive of Stanhope plc, said the companies need to “disrupt the market” to achieve the “ambitious goals” for new and affordable housing set by the mayor and the government.
He added: “This alliance between Stanhope and Network Homes is the only way we are going to solve London's housing crisis, by delivering high-quality new homes cheaply and efficiently outside the conventional structures which have failed.
“Stanhope is building upon its expertise and experience to play a long-term role in delivering reasonably priced homes with a variety of tenures in London.
“Our strategic partnership will not only enable us to deliver 550 new homes in Southall quickly and cheaply but also to combine our skills to provide much-needed regeneration and high quality mixed tenure product and service across London.”
Network Homes and Stanhope initially signed a framework agreement in 2016 to explore opportunities in the Build to Rent sector.
Together with the alliance's construction partner Laing O’Rourke, the three companies intend to identify and build out multiple sites over the next five years.
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