Danescroft Land backed by Palmer Capital has bought three adjoining properties in West Drayton in the London Borough of Hillingdon for a major residential development for just under £7m.
The combined sites comprise more than one acre and offer the potential for the development of more than 80 flats in three blocks.
They are located adjacent to the Grand Union Canal and opposite the new West Drayton Crossrail station, which is due to open in 2019.
The buildings were funded by the Palmer Capital Development Fund III.
Palmer Capital fund manager Chris Button said: “West Drayton has already seen considerable investment interest and we predict further growth as the opening date for the new service draws ever closer.
“This acquisition perfectly reflects our investment strategy of investing in urban areas with good infrastructure which are well positioned for growth.”
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