Currently, the development site at Alperton is a large occupied industrial estate of 6 acres which was established in 1931. When we were first introduced to the site in 2007, it was only partly occupied and generated a very low income due to the lack of positive marketing to let the site. Once the estate was purchase by us, we immediately appointed agents to attract new business to the site and were able to increase the income to the current net yield of 12%.
After numerous pre-application discussions with the Local Authority and other key stakeholders, we submitted a full detailed planning application for the site in December 2018. The mixed-use scheme is for 581 residential units with a commercial element of approximately 1350m² floorspace and affordable workspace. There will also be 186 car parking spaces provided, the vast majority of which will be off-street.
The development will take approximately 3 years to complete once Planning Permission has been approved.