Reselton Properties, represented by Dartmouth Capital Advisors, has finally secured planning approval for its €1.5bn (£1.3bn) residentially-led mixed-use scheme on the historic Stag Brewery site in Mortlake, South West London. The landmark victory came via appeal, ending a decade-long planning saga that demonstrates the increasing complexity and political nature of securing consent for major regeneration projects in the UK capital.
The development, designed by award-winning architects Squire & Partners, will deliver 1,068 homes in a mix of one to four-bedroom units, a 1,200-pupil secondary school academy, retail space, offices, and over 36,000m² of green space along the River Thames. Market analysts note that the scheme's innovative approach to viability, featuring a minimum 7.5% affordable housing provision with multiple review mechanisms, could establish a new model for large-scale developments in challenging economic environments.
The project has overcome extraordinary hurdles, with three different iterations approved by the London Borough of Richmond Upon Thames, only to be rejected by the Greater London Authority. Of particular interest to investors is the site's prime Thames-side location near the Oxford and Cambridge Boat Race finishing line, with capital growth projections showing potential above-market returns as the area transforms from industrial brownfield to premium residential district. The development's fossil-fuel-free energy strategy, utilising air source heat pumps throughout, also positions it favorably under increasingly stringent ESG investment criteria.
Guy Duckworth, Development Director of Dartmouth Capital Advisors, expressed frustration at the prolonged process: "Our client bought the site with the benefit of a planning brief from Richmond Council, the spirit of which our architects Squire & Partners have followed faithfully, and yet it has taken 10 years to obtain a planning consent. Through the expert planning advice of our consultants, Newmark, LBRuT approved three planning applications, all of which were refused by the Mayor of London, Sadiq Khan, including one scheme that his own Greater London Authority officers recommended for approval,l offering a minimum of 30% affordable housing and a new secondary school."
The approved scheme will generate substantial public benefits, including a €57-71m (£48-60m) Community Infrastructure Levy payment, new public spaces including a park on Lower Richmond Road, community access to school sports facilities, and road improvements addressing existing traffic congestion. Additionally, it opens up 89,000m² of previously inaccessible riverside land while creating over 300 new jobs through commercial facilities including a cinema, retail spaces, a hotel and offices, elements that strengthen its investment case amid growing demand for mixed-use developments offering diverse income streams.
PEOPLE MENTIONED:
- Guy Duckworth, Development Director, Dartmouth Capital Advisors
- Sadiq Khan, Mayor of London
COMPANIES MENTIONED:
- Reselton Properties - Developer of the Mortlake Brewery scheme (subsidiary of City Developments Limited)
- Dartmouth Capital Advisors - Development advisor representing Reselton
- City Developments Limited (CDL) - Singapore-listed parent company of Reselton Properties
- Squire & Partners - Architects for the development
- Newmark - Planning consultants
- London Borough of Richmond Upon Thames (LBRuT) - Local planning authority
- **Greater London
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