Alperton has been identified as being a suitable location in Brent for the construction of new homes to meet the demands of population growth and the shortage of housing.
In an off-market deal negotiated directly with the developer, Maybridge Group was offered the opportunity to invest in the development of 8 studio apartments and one-bedroom apartments overlooking the Grand Union Canal. Negotiations for the purchase were agreed within a week.
Maybridge Group also conducted a Masterplan Appraisal for the existing buildings.
The acquisition fits ideally within Maybridge Group’s investment criteria for properties which are unique within their local markets, offer significant investment opportunities and have potential for strong capital growth. Maybridge Group’s partnership meant the Housebuilder no longer had to speculatively sell the apartments on the open market, saving them considerable sales and marketing costs and allowed them to move forward onto other projects.
Development Name: Clothier House
Location: Alperton, HA0
Joint Venture: Restoration London
Description: Permitted development scheme, conversion from an office to eight studio apartments and one-bedroom apartments and commercial on the ground floor.
Year Acquired: 2015