Henley to unlock Central London riverside sites for residential development
Henley, a global private equity real estate investor, has exchanged on two brownfield land parcels in Fulham, London, in an off-market deal that will unlock the combined sites for a potential development of over 300 residential units, as well as re-activating a safeguarded wharf along the riverfront.
The prestigious riverside location in Fulham is the only remaining undeveloped land located on the Thames River between Wandsworth Bridge and the railway at Imperial Wharf, in an area popular with young professionals and families. The site had been previously consented for a mixed-use scheme but the permission has now lapsed. The revised scheme will now include retail and residential, as well as the wharf use, supported by the Port of London Authority (PLA).
Warwick Hunter, Henley’s Managing Director, Development and Asset Management, says: “Our control of the two previously unaligned sites means that we can take both through planning as a combined plot, initiating planning works vital for the development of a residential scheme at this riverside location. The demand for housing in London far exceeds supply and the resulting development at this location would significantly contribute towards the housing requirement in this popular area.
“The design team has now been assembled, with work for a major application kicking off in October, and we look forward to engaging with key local stakeholders throughout 2021 on this important site. We are also delighted to be working alongside the PLA to reintroduce the working wharf and promote waterborne logistics, freeing up lorry movement and congestion from London’s roads.”
Ian Rickwood, CEO of Henley, adds: “Our ambition for this site is aligned with our track-record for identifying and unlocking land for residential development, both in the UK, such as in Ebbsfleet, as well as in the USA. We are continuing to look for well-located large land parcels that can be prepared for development in this way. We currently control over 15,000 finished or developable houses and apartments, and delivery of homes remains a priority.”
Elsewhere, Henley is several years into master planning a 665-acre site in Ebbsfleet Garden City, Kent, which involves the delivery of over 6,000 new homes in partnership with Homes England, national PLC housebuilders and housing associations. The infrastructure and development of the mixed-use town centre will also include landscaped public places, amenities and schools.