Affordable housing developer Pocket has bought a 100-home residential development opportunity in Bollo Lane, W4.
The site is Pocket’s largest deal to date and has a GDV of £40m. The vendor was a private land owner.
It is the developer’s fourth site in Ealing, and will account for 9% of the borough’s annual housing target.
Under the Pocket model, flats in the development will be sold for at least a 20% discount to the local market. Future buyers will need to meet the same GLA-set income eligibility criteria.
Pocket aims to submit plans to the council in 2016. Architect PRP has been instructed to act on behalf of Pocket.
Nick Cuff, land director at Pocket, said: “We are incredibly excited to be building again in Ealing. The local council’s commitment to affordable housing is commendable. Chiswick is a vibrant area where city makers want to live. We think our site on Bollo Lane will be very popular and we look forward to delivering even more affordable Pocket homes in this sought-after area.”
