The Premier Greenford partnership, a 50:50 joint venture between Brixton Estate and Pearl Assurance, has received detailed planning consent for three elements at its Greenford Park scheme in west London.
The first element comprises 10,219 sq m (110,000 sq ft) of B8 and distribution space, which will be built to the north of the Grand Union Canal. Prelettings are being sought.
The second element, to the south of the Grand Union Canal, comprises 9,661 sq m (104,000 sq ft) to be used for B1, B2 and B8 purposes. The jv aims to build high office content units. Construction will commence in September 2000 and be completed by May 2001.
The JV also plans to build 1,746 sq m (18,800 sq ft) for B1 purposes on the Tetley site, Oldfield Lane North. The development is subject to a preletting agreement to Tetley, on the basis of a minimum 15-year lease and at an initial rent of £18 per sq ft (£194 per sq m). Construction will commence in September 2000 and be completed by August 2001.
Planning consent follows the recent acquisitions of 4.4ha (11 acres) either side of the Grand Union Canal. The Partnership owns a further 7.7ha (19 acres), which will be available for development from the end of 2001.
Holley Blake and King Sturge are retained as letting agents.
EGi News 07/08/00
