Morrisons Site Sold to Developer
Application to build flats to be submitted next year
The Morrisons site on Brentford High Street has been acquired by a developer for conversion into flats according to a report on a property magazine web site.
Property Week are reporting that Essential Living has purchased the 1.6-acre plot at 228-246 High Street. It was acquired for £16.25m from Threadneedle Investments, which reflects a yield of 3.8%.
The company will work up plans with Hounslow Council and key local stakeholders to create a new mixed-use scheme that will be built and managed solely for rent.
Charlie Hustler, land director at Essential Living, said: “We have remained focused on expanding our portfolio of sites across London and the South East and are delighted to be able to offer Hounslow its first development designed and built entirely for rent.
Details of the scheme have not yet been finalised, but consultation will begin later in the year, with a planning application anticipated next summer.
Essential Living has a total of eight sites across London and the South East and plans to create a pipeline of 5,000 homes.
At this stage Morrisons are yet to comment on the possibility of the store closing. Earlier in the week they did announce the closure of nine stores across the country as part of a retrenchment exercise. They took over the store in 2009 after acquiring the site from Somerfields.
September 18, 2015