Peabody to acquire 142 affordable homes at Television Centre

January 6, 2021
what is happening to house prices

Stanhope, Mitsui Fudosan and AIMCo (the joint venture “JV”) announce that they have exchanged contracts with Peabody who will acquire 142 new affordable homes in two new buildings at Television Centre, London, W12.

The buildings form part of the wider Television Centre development which will eventually have c 950 homes in total. Stanhope is also the development manager for the JV.

Designed by Maccreanor Lavington Architects, the new buildings will replace the existing former BBC multi-storey car park on Wood Lane, W12, opposite Westfield. The new buildings will provide 71 London Affordable Rent, 34 London Living Rent and 37 homes for Shared Ownership.

The JV will demolish the existing car park in 2021 and commence construction in 2022, with delivery expected in 2024. The buildings will provide 68 x 1 bed, 67 x 2 bed and 7 x 3 bed apartments, with new public realm and retail space retained by the JV fronting Wood Lane.  Peabody will be responsible for managing the homes when completed.

The JV is working closely with Transport for London, who own the adjacent arches below the elevated Hammersmith & City line, to help improve the wider area for the local community.

Jonathan Trout, Property & Commercial Director at Stanhope said “We are delighted to have exchanged contracts with Peabody and are looking forward to delivering much needed affordable homes for residents in Hammersmith & Fulham. Peabody share our long-term commitment for the area and we look forward to bringing forward the next phase of the project in due course.”

Simon Barry, Regional Development Director at Peabody said “This represents a fantastic opportunity to deliver high quality affordable homes in an excellent location. We have been closely involved through the early stages of design and look forward to working alongside the JV to help create great place to live within a thriving community in West London”.

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