Housing association to acquire 75 homes in North West London plaza development
A subsidiary of an international developer has exchanged contracts to sell 75 units at one of its London developments to a housing association.
Poly UK, a subsidiary of international developer Poly Development and Holding Group, has agreed the sale of units at the Plaza Collection development in Mill Hill to housing association Notting Hill Genesis.
Located in phases 6 and 6b of the development, the one and two bedroom apartments will be utilised for a mixture of intermediate housing (shared ownership and intermediate rent) and affordable rent.
In total, Poly UK’s portion of the Plaza Collection will deliver over 700 homes, as well as a new landscaped plaza and 1,400 sq m of commercial and retail space.
Terence Luo, director at Poly UK, commented: “This deal will help bring diverse housing to this landmark transformation project, with a trusted operator that has a proven track record in managing affordable housing at scale.
“Plaza Collection is creating a new community for Mill Hill East, with homes, commercial space and extensive public realm that will help form a gateway to the wider Millbrook Park.”
“Construction is progressing well and we look forward to the first new residents making this home.”
John Hughes, group development director at Notting Hill Genesis, added: “This is a fantastic development in a great location and we are pleased to be working alongside Poly UK in delivering more genuinely affordable housing in the borough.”
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