Buccleuch Property has secured planning permission for a prominent residential-led development in Hayes, west London. The 3.7 acre site at Nestles Avenue currently consists of a series of low-rise light industrial buildings and has detailed planning permission recently granted for a scheme comprising 457 residential units totalling 29,175 sq m and 2,545 sq m of commercial uses. Once developed, the scheme is estimated to have a GDV of £190-200m.
Hayes and its surrounding areas are experiencing significant regeneration and inward investment, brought about in part by the arrival of Crossrail. The site is located within 150 metres of Hayes & Harlington station, which is due to operate Elizabeth Line services from mid 2021, providing easy access into central London with a journey time of less than 20 minutes.
Buccleuch, who are being jointly advised by Savills and Carter Jonas, are marketing the site for sale and it is anticipated that it will receive strong interest from a wide range of different parties.
Sandy Smith, Development Director of Buccleuch says: “Having recently secured detailed planning consent for an excellent scheme on top of a Crossrail station it is now time to realise our investment in this site and for it to realise its potential to deliver much needed private and affordable housing into the London market”
Rob Pollock, Director of Savills, says: ‘With the improved market sentiment following the general election, we anticipate that an opportunity of this scale and price point will appeal to a broad spectrum of developers. It’s location, coupled with the regeneration opportunities make this an exceptional opportunity to deliver a development in a market where some of the strongest occupier demand exists.”
For further details contact Rob Pollock, Savills on 020 7409 8114 or George Barnes, Carter Jonas on 020 7529 1539.
