Weston Homes has successfully acquired a 0.6-acre site on Caxton Road, Wood Green, with plans to create a new €38.7m (£33m) (GDV) mixed-use residential-led development, benefitting from a host of local amenities and travel connections. Situated just 300 metres from Wood Green Underground Station and in close proximity to a wide range of facilities along Wood Green High Street, the site has lain out of use for fourteen years. Weston Homes purchased the site from boutique London developer Aitch Group, with the consented plans due to breathe new life into the site.
Occupying a prominent corner position at the junction of Caxton Road and Mayes Road, the consented plans see the erection of a single mixed-use building between four and nine storeys high, spanning a total proposed area of 7,315m² (78,748ft²) GIA. Residential units will sit above 902m² (9,716ft²) of flexible commercial space, divided into seven separate units – three being ground floor only, and four arranged over both ground and first floors. The upper floors will provide 75 high-quality residential apartments including 50 private sale homes, and 25 affordable homes comprising 10 shared ownership and 15 London affordable rental units.
The site was granted detailed planning consent by the London Borough of Haringey in May 2021, with contracts exchanged in June at a land purchase price of €9m (£7.8m). The land acquisition was successfully completed in July 2021.
Bob Weston, Chairman & Managing Director of Weston Homes said: “We are delighted to have successfully exchanged on Caxton Road which is a key redevelopment site for the area. Having been disused for fourteen years we are excited to be able to bring the site back to full use and transform it into a new destination to live, attracting both retail and people to this North London location.”
Stephen Hollyoak, Land Director at Aitch Group commented: “We are pleased that Weston Homes will redevelop the Caxton Road site and bring a new community of residents and retail facilities to the disused site. These pockets of land, with good transport connections and local amenities, offer excellent opportunities with the new homes set to appeal to both those looking to relocate to the area and local residents.”