National Grid is set to bring its third major mixed-use London development site to market this year as it seeks to rid itself of all surplus property over the next decade.
A prime 18-acre site in the South Fulham Riverside area will be formally marketed before the end of the year.
The former gasworks at Imperial Road, SW6, is a trophy site for National Grid and has potential for a £3bn, 2,000-home development. It is likely to be put for sale with a £300m price tag.
Plans have been submitted to tear down five of the six gasholders on the site to clear the way for development. Make Architects has been appointed to draw up a masterplan for the scheme.
A spokesman for National Grid said: “It is hoped that this site will eventually provide a significant number of dwellings, providing much-needed new homes in the London borough of Hammersmith & Fulham.”
National Grid has more than 1,000 acres of surplus land across the UK, which could be sold for residential redevelopment.
In March, it sold a five-acre site in Battersea, SW11, to Berkeley Group’s St James’s division for £75m and brought a 12.5-acre site in Haringey, N8, to market for a £300m residential-led scheme.
The land at Imperial Road will likely attract interest from sovereign wealth funds due to its proximity to high-end retailers and restaurants.
Deloitte, which has been advising on the future of the Imperial Road gasworks since 2012, will handle the search for a development partner or buyer.
