Land Securities is bringing a slice of one of west London’s largest residential development opportunities to market.
After overcoming a number of planning hurdles and securing a new consent last month, LandSec has instructed Paul Adams Flaherty and Savills to sell a 20-acre plot at the £500m development.
Harrow View West, which has consent for 314 homes, forms part of the famous Kodak camera production plant. Offers over £35m are being sought.
LandSec teamed up with Kodak seven years ago to optimise use of redundant areas of the camera giant’s production plant, which in total covers around 60 acres.
Despite a masterplan proposing 985 homes and 135,000 sq ft of shops and community space being approved by mayor of London Boris Johnson in 2012, it has taken until now for LandSec to be able to start selling parts of the site.
New consent granted in December means a planned school, which was holding up a sale, can be relocated.
LandSec development surveyor Ali Larner said: “A sale with the previous restriction in place would have been difficult and detrimental to the value of the site and the delivery of homes.
“We have unpicked a section 106 agreement and in turn will be providing a major redevelopment opportunity for UK housebuilders, which are desperately trying to boost their South East landbanks.”
The council had been suggesting an affordable housing provision in the range of 18-40%, but LandSec has secured a fixed 19% provision.
Deputy leader of Harrow council Keith Ferry added: “We are glad to see that there is progress on this development. It is good news that we are moving forwards to create much needed affordable housing for our residents.”
The REIT is now drawing up plans for the remainder of the land, which, subject to planning, will see sites brought to market by the end of the year.
