Union Developments to acquire land in Brent for four-tower resi scheme

Property marketing group Union Developments has secured an eight-figure investment to support its acquisition of a 100,000 sq ft site in Brent.

The company will use a £35.4m development finance facility to acquire Warranty House on Dudden Hill Lane and transform the site into new homes and business space.

The scheme will comprise 113 apartments across four towers, along with over 6,300 sq ft of commercial space.

Project management firm Findon Homes will manage the development.

Union Developments director David Pollock said: “With its excellent transport routes and considerably more affordable homes than those in Zones 1 and Zones 2, Dollis Hill has become an increasingly popular area for young families and first-time buyers to plant roots.

“The team at OakNorth worked tirelessly to get the deal done and we thoroughly enjoyed being given the opportunity to discuss the scheme directly with the Credit Committee – who gave us an answer within an hour of the meeting. A refreshingly simple and efficient experience.”

Damien Hughes, senior director for property finance at OakNorth, commented: “David Pollock and his team at Union Developments have over 60 years’ of property experience between them, and an extensive track record of successfully bringing projects to fruition.

“They have completed numerous schemes of this size in London, with several more in the pipeline, so while there are few comparable schemes in the area, we’re confident they’ll get the demand they anticipate.”