Telford Homes’ plans for a £180m build-to-rent scheme at the former Alperton bus garage in Wembley have been recommended for approval.
Plans would see 457 homes in buildings of up to 28 storeys, with 27,513 sq ft of light industrial on the 1.4-acre site. This includes 306 BTR homes, 84 affordable rented homes and 57 shared ownership homes.
Telford is anticipating a 3.75% yield for the stabilised BTR asset, with a gross development value of £180m and rental values of £33-34 per sq ft.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
