Montreaux wins consent for Cricklewood B&Q regen

Montreaux has been granted planning consent for 1,049 homes to replace the B&Q at Cricklewood Broadway Retail Park, NW2. Barnet’s planning committee approved outline plans on 9 September, despite 2,211 objections and 48 letters of support. The plans propose buildings ranging from three to 18 storeys. The plans were scaled down from initial proposals for 1,100 homes in 25 storeys, with two sets of revisions. There is a mix of tenures, with the first and tallest block dedicated to build-to-rent and discount market rent, and a mix of affordable rent and private housing across the three other blocks. Overall there will be 35% affordable housing. The scheme will include 13,000 sq ft of flexible floorspace, replacing the 86,000 sq ft of retail, including a large B&Q. Montreaux bought the 6.8-acre site from B&Q owner Kingfisher for £45m in 2019. Kingfisher has been driving forward a sale and leaseback strategy to raise cash, with a number of stores in London earmarked for sale. At the time of the sale B&Q was considering leasing a small amount of commercial space to provide a slimmed down offering. The plans will now go to the mayor of London for the final decision. In the past year, the developer also secured consent for residential development at Ilford Retail Park and another scheme in Barnet, at the former Fiat car dealership in Colney Hatch. Montreaux has a significant London portfolio, also including the 2,000-home redevelopment of the Margarine Works in Ealing, west London. It has £2.5bn in developments with a pipeline of a further £650m. The developer is currently seeking urban regeneration projects outside the capital with capacity for up to 1,000 homes and schemes of around 150 homes for the suburban division.   To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews Image © EPR Architects