Over 1000 new Cricklewood homes planned after developer secures financing
Property developer Montreaux has secured funding for a 1000-unit mixed-use development in North West London.
Following the securing of finance from business lender OakNorth and real estate specialist ASK Partners, the company is applying for permission to build a mixed-use development in Cricklewood.
The development is planned for a site opposite the Brent Cross Cricklewood regeneration area which, according to Montreaux CEO David Burke, is “a major focus for the creation of new jobs and homes” with a “strategic location” in terms of public transport links.
Montreaux will use the finance to acquire an 86,000 sq ft warehouse and 470 car parking spaces on which to develop its residential-led scheme, comprising one, two and three bedroomed properties as well as commercial spaces.
Hemesh Patel, property finance director at OakNorth, explained: “Subject to planning approval, this new development will provide the local community with over 1000 new homes as well as several additional commercial units.
“The team at Montreaux have a diverse and expansive portfolio spanning care homes, hotels, commercial, leisure, retail, mixed-use, and residential, so we look forward to working with them on additional projects in the future.”
The development is the latest in a number of proposed and ongoing regeneration projects in the area, with Daniel Austin, CEO of ASK Partners, adding: “This exciting new project has the potential to greatly benefit the local community and contribute to the ongoing regeneration of the wider Brent Cross Cricklewood area.”
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