We are delighted to announce that contracts have completed in relation to a new Hyelm development scheme in the vibrant and emerging regeneration area of Colindale, North London.
The site, which is located close to good transport links and high-quality amenities, will provide up to 158 fully en-suite bed-spaces for rent in a new-build development for young people in the early stages of their careers who cannot afford to rent or buy in the private sector.
It will also provide communal areas, office spaces, launderette facilities, garden spaces and a number of commercial units.
The purchase is a fixed price package deal working in partnership with a London development company and a housing association.
The site already has planning permission for a mix of apartments for private sale and affordable housing. Positive feedback has been received from LB Barnet and from our own specialist planning consultants that permission will be granted for our own purposes.
Construction will take around two years to complete and will begin as soon as planning permission has been obtained.
The cost of the project will be financed primarily from our own cash deposits. The scheme will then be used as security to raise private sector funding to finance the cost of a further new development scheme.
Visit our website for regular reports on progress!