Galliard Homes, in conjunction with Cain Hoy and ARV Investments, have paid in excess of £15 mln (approx. €21 mln) in order to acquire full ownership and control of a 0.5 acre (approx. 2023 m²) site close to the Chiswick Roundabout in the London Borough of Hounslow.
Under past plans led by commercial specialist London & Bath Estates, the site was intended to house a £120 mln (approx. €168 mln) landmark 50 metre tall office building complete with advertising billboards known as The London Octopus. Although there was some interest from overseas corporations in an office building solution eventually this did not come to fruition due to competition from existing office provision locally.
Now that control of the site has come fully under residential specialist Galliard Homes the company has reviewed the approach and will now look at plans to create a residential-led project on the site, with detailed plans to be submitted to Hounslow this autumn.
Source: Galliard Homes