Imperial plans Perfume Factory digs

Essential Living has sold half of its Perfume Factory scheme, W3, to Imperial College for £30m. The site in North Acton, part of the Old Oak Common regeneration zone, was given planning consent for 550 build-to-rent homes last year after Essential Living bought it for £28m in July 2014. Imperial College will develop about 700 rooms for student accommodation as part of new halls of residence on its half of the site, while Essential Living has plans for 450 homes, including affordable housing at discount market rent. Martin Bellinger, chief operating officer at Essential Living, said: “We are delighted to be partnering with one of the world’s most prestigious academic institutions, which will further diversify the build to rent community we are creating at the Perfume Factory. “We look forward to working closely with Ealing Council and the community as we set out the detail of our planning application.” Mishcon de Reya advised Essential Living. • To send feedback, e-mail karl.tomusk@estatesgazette.com or tweet @ktomusk or @estatesgazette