Colliers International’s Residential Development team has completed the sale of the Horton Wharf, a 1.28 acre site in West Drayton, on behalf of Danescroft Land, to Shepherds Bush Housing Association, for £10.125 million. The former printing press has planning consent for 87 apartments and 110 sq m of retail space.
The scheme, which borders the Grand Union Canal, was designed by award winning architects BPTW Architects. It is supported by strong transport links to both Central London (21 minutes into London Paddington) and the South of England and the imminent Crossrail station also lie in close proximity. The surrounding area comprises primarily of established and new build residential accommodation, green parks and open spaces.
, Director in Colliers International’s Residential Development team commented: “Average house prices in West Drayton have risen by 62 per cent over the last five years and outperformed the
Greater London average by 7.4 per cent over the past 12 months. It is forecast that West Drayton will experience some of the greatest price increases of any station along the Elizabeth Line. The site is situated in an ideal location, able to benefit from great transport links and prominence in an area that has undergone significant development in the last five years so Horton Wharf is a great investment.”
Cushman & Wakefield jointly advised on the sale.