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.
The planning application was lodged last November. Brent Council’s planning committee will debate the application on 27 April.
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