Joint venture to bring new mixed-use development to Park Royal

A new alliance between Fairview New Homes and leading housing association L&Q is set to bring more new homes to Park Royal in west London as well as extensive new office space.

The two members of this brand new 50/50 joint venture are both highly active across the capital, with L&Q expanding fast and gaining many awards including a Gold WhatHouse? Award in 2015 for Best Housing Association.

This relationship is the first between the two and focuses on a 5.5 acre site that forms the third phase of the First Central development. The project will transform a former Guinness factory site and add to new homes already provided by Bellway, Catalyst and Redrow. Around 800 new apartments are expected on this phase of building.

Fairview land director Richard Paterson says: “We are delighted to be working with L&Q in a 50/50 joint venture for the first time and we welcome more joint projects of this type. This location is already 'tried and tested' with the success of an earlier phase and its proximity to Park Royal underground station on the Piccadilly Line and Hanger Lane on the Central Lane, not to mention direct access by road to the A40 Western Avenue and the A406 North Circular."

Jerome Geoghegan, group director of development and sales at L&Q adds: “We are pleased to be able to collaborate with Fairview on this exciting new development at Park Royal and we are confident we will be able to bring our extensive experience to help deliver this important site.

“L&Q are one of the leading residential developers in London and the South East, building high-quality homes for people across a range of incomes. We have ambitious plans develop a pipeline of new homes over the next decade and partnership is at the core of our approach – working together to deliver communities that make the capital an even better place to live.”