(Sharecast News) - Brownfield developer Inland Homes announced on Monday that planning permission has been granted for an extensive mixed-use development at Cavalry Barracks in West Hounslow.
The AIM-listed company said the project, under its asset management division, would encompass 1,525 residential units and 2,700 square metres of commercial space.
It said the Cavalry Barracks site, covering 36.7 acres, was of both historical significance and strategic importance.
As one of the largest remaining brownfield sites in London, it is situated in an area undergoing ongoing regeneration and experiencing high demand for housing.
Additionally, the site would benefit from transportation links to both central London and Heathrow Airport.
It noted that 35% of the proposed 1,525 homes would be designated as 'affordable housing', adding that the approved plans would entail the preservation and revitalization of 14 grade II listed and nine locally listed buildings on the site.
Additionally, 10.6 acres of open space would be provided, and contributions would be made to enhance both Beaversfield Park and Hounslow West tube station on the Piccadilly line.
With planning consent now secured, Inland Homes said it was actively assisting the external investors involved in the project with formulating a disposal strategy and determining the best delivery options for the site.
"Cavalry Barracks, Hounslow is an exceptional site and we have worked closely with the London Borough of Hounslow to agree the terms of the section 106 agreement and achieve this significant planning consent," said interim chief executive officer Nish Malde.
"For a site of this historical significance and scale, this clearly demonstrates Inland Homes' success in working collaboratively with local councils to secure planning consent on complex brownfield sites.
"With the consent granted, we look forward to supporting the external investors behind this impressive development and in delivering regeneration and prosperity for Hounslow."
Trading in Inland Homes shares remained suspended due to delays to the audit of its accounts for the year ended 30 September, after it revealed possible related party issues on 1 March.
At the time, its chairman Simon Bennett and non-executive directors Carol Duncumb and Brian Johnson resigned immediately.
Reporting by Josh White for Sharecast.com.
