Brent Council has exchanged contracts on a ten storey office called Brent House in Wembley, London with Henley Homes. The residential developer plans to redevelop the 1.7 acre plot and create a new residential scheme that will deliver nearly 265 new sale and affordable homes.
Global property consultants, Colliers International advised Brent Council on the disposal of Brent House on a subject to planning basis. The developer plans to demolish the 128,828 sq ft 1960s office building and build high density residential accommodation in its place. The property exchanged for in excess of the guide price of £10 million.
Annabel Haan, Head of Residential Development, Colliers International commented:
“Brent House benefits from good transport links; as a location it is ideal for high density residential accommodation and well suited to Londoners looking for homes in striking distance of Central London. As it stands, Brent House is dated. Demolishing the property and creating purpose-built high quality residential accommodation is of key strategic importance to address London’s housing shortage, and we hope to see more schemes like this being announced in London.”
Councillor Margaret McLennan, Lead member for Regeneration and Housing at Brent Council said:
“Our priority is to make Brent an attractive place and to ensure that more homes are being built for our residents. This exchange represents another key milestone in the regeneration of Wembley and I hope to see high quality proposals being brought forward soon.”
Adil Rashid, Land Director at Henley Homes, commented:
“The unrealised potential of this prominent location on Wembley High Road enables a scheme offering contemporary new homes arranged around a thriving public piazza. We are delighted to be working with the forward-thinking team at Brent on the creation of such a landmark development. ”
Colliers International acted for Brent Council; Henley Homes were unrepresented.