SEGRO plc (‘SEGRO’) has selected Barratt London as the residential partner to deliver over 1,000 homes on the former Nestle plant in Hayes, West London.
The agreement is subject to planning permission.
The regeneration will be a boost for the Capital as it faces the challenge of building more homes to meet population growth coupled with creating the employment opportunities that underpin sustainable communities and business.
As a long term property investor and developer, SEGRO will be responsible for delivering 230,000 sq. ft. of modern industrial and urban logistics warehouses that have the potential to create up to 400 jobs.
SEGRO and Barratt London will work together with Hillingdon Council to achieve planning consent, with SEGRO eventually selling the land earmarked for residential to Barratt London who will be responsible for delivering the homes and community space on the former coffee and chocolate factory site.
SEGRO bought the 30 acre site in January in 2015 as part of its strategy to provide high quality urban warehousing to meet the growing demand from occupiers.
Alan Holland, SEGRO’s Business Unit Director for Greater London, said:
“This is an exciting time for SEGRO as we embark on a new journey to deliver both first-class urban warehousing alongside a high quality residential scheme. London’s population is set to expand significantly over the next decade and with land supply diminishing rapidly, we understand the need to think creatively to meet the need for homes and jobs.
“As experts in developing sustainable, modern industrial and logistics warehouse space we are delighted to partner with Barratt London who have a strong track record in taking complex sites and transforming them into great places to live.
“We will bring forward the space for jobs and businesses and Barratt London will bring forward the homes for Hayes.”
Alastair Baird, Barratt London’s Regional Managing Director said;
“This year we are set to complete around 2,000 new homes across London and this agreement with SEGRO will boost our pipeline of future projects. It demonstrates that our technical capability in delivering complex schemes continues to provide us with a competitive advantage in London. Working with SEGRO, we will draw on our experience to design and build a great place to live and work on this important regeneration site in Hayes.”
SEGRO and Barratt London are aware of the site’s cultural heritage and will consult with the local community on its vision for the site to ensure that it returns to being a vibrant hub of activity. As well as delivering over 1000 homes and 400 jobs, residents and local employees will be able to take advantage of a range of amenities, such as the open canal frontage and new community facilities.
The site is in a prime location for business and residents. It is less than a mile from junction 3 of the M4 motorway which offers easy access to the UK motorway network for regional distribution and to central London for urban logistics operators. It is also next to the Hayes and Harlington railway station which will become a Crossrail station in 2019.
The local community will have every opportunity to comment on the scheme when SEGRO and Barratt London launch their joint consultation this year. Subject to planning permission being secured, work on the site will begin in 2017.
For more information, please visit http://formernestlefactory.co.uk.
For further information, please contact:
Lizzie Humphreys, SEGRO
0207 451 9129 / Lizzie.Humphreys@SEGRO.com
Kieron Smith, FTI Consulting
020 3727 1476 / Kieron.Smith@fticonsulting.com
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, asset manager and developer of modern warehousing and light industrial property. It owns or manages 6.0 million square metres of space in £6.8 billion of assets (at 31 December 2015, excluding the office portfolio sold in January 2016; SEGRO’s share totals £5.5 billion), serving customers from a wide range of industry sectors. Its properties are located around major conurbations and at key transportation hubs across ten European countries, principally in the UK, France, Germany and Poland. For further information see www.SEGRO.com.
About Barratt London
Barratt London is a market-leading residential developer, with over 30 years’ experience in the Capital, delivering over 2,000 new homes in London each year. Barratt London is committed to providing an unbeatable customer experience and developing exceptional homes for all Londoners. We have an extensive portfolio of residential developments and partnerships delivering homes across the Capital for all Londoners, from state-of-the-art penthouses in Westminster and riverside communities in Fulham, to complex, mixed-use regeneration schemes in Hendon.
Barratt London is part of Barratt Developments PLC, the UK’s largest housebuilder.
About Barratt Developments PLC
Barratt Developments PLC completed 16,447 new homes in the year to June 2015, making