The development site at Alperton is included within the Housing Zone by the Mayor of London and is identified by the London Borough of Brent Core Strategy for mixed-use, residential-led regeneration within the Alperton Growth Area. Brent Council has identified the land adjoining the canal in Alperton as a growth area suitable for the construction of new homes to meet the UK wide demands of population growth and the shortage of housing.
Currently the land at Alperton is a large occupied industrial site of 6 acres which was established in 1931. When we were first introduced to this site in 2007, it was only partly occupied with large void areas. The low-income generation reflected the lack of any positive marketing to let this site. Once the site was purchased by us, we immediately appointed agents to attract new business to the site and then continued to manage it in a professional manner. By doing this, we were able to increase the income to the current net yield of 12%.
After numerous pre-application discussions with the Local Authority and other stakeholders, we submitted a full detailed planning application for the site in December 2018. The scheme is for 581 residential units spread between buildings ranging in height from three to fourteen storeys which will include a mix of 1/2/3 bedroom apartments and 3 bedroom houses. There will also be a commercial element added to the development with a total of approximately 1350 m² of floorspace and affordable workspace. There will also be 186 car parking spaces provided, the vast majority of which will be off-street.
Once Planning Permission has been approved, the development will take approximately 3 years to complete.