Buyers sought for Grand Union Canal residential scheme

London Green and Prospect Capital are preparing to sell a £70m GDV residential scheme on a 140m strip of the Grand Union Canal at Scrubs Lane, NW10. The joint venture has appointed Allsop and CBRE to find buyers for the Mitre Wharf development, which consists of 147 homes. The development is marketed with planning permission for two buildings of eight and nine storeys and 6,500 sq ft of commercial space, as well as leisure and canalside amenities. A fifth of the homes will be affordable. Mitre Wharf is located within the area covered by the Old Oak and Park Royal Development Corporation. The site, currently occupied by a tyre supplier, is located within the 1,600-acre regeneration area of west London. The scheme was approved by the OPDC in October last year, after it was initially recommended for refusal by the London Borough of Hammersmith and Fulham owing to the lack of affordable housing provided in the scheme. The jv has not specified a guide price and is welcoming bids. London Green declined to comment. See planning information for the London Borough of Hammersmith and Fulham >> To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews Images courtesy of London Green