Danescroft arrives at West Drayton Crossrail

In a series of off market transactions Danescroft Land backed by Palmer Capital have acquired three adjoining properties in the centre of West Drayton for a major residential redevelopment for just under £7M. The combined sites comprise over one acre and offer the potential for the development of over 80 residential apartments in three blocks.

Located adjacent to the Grand Union Canal and immediately opposite the new West Drayton Crossrail Station, the development will complete the regeneration of this key area. The apartments will be designed to offer attractive water views and high levels of amenity, just two minutes’ walk to the new station with journey times to Central London (Bond Street) of only 23 minutes.

Chris Button, Fund Manager at Palmer Capital commented:

 “We are thrilled to support Danescroft in the acquisition of this strategic site, so well placed to benefit from the opening of the new Crossrail Station in 2019.  West Drayton has already seen considerable investment interest and we predict further growth as the opening date for the new service draws ever closer. This acquisition perfectly reflects our investment strategy of investing in urban areas with good infrastructure which are well positioned for growth”

The acquisitions were funded by the Palmer Capital Development Fund III.

Danescroft Associate Director/Head of Acquisitions James Trelfa commented:

“This is typical of the type of opportunities that Danescroft are seeking to acquire in Greater London and the Home Counties. Access to excellent public transport infrastructure will be critical to creating sustainable homes able to accommodate London’s growing working population.  Together with our funding partners Palmer Capital we have considerable funds available for more unconditional land acquisitions.”

Author: Louise Clarence-Smith, Estates Gazette

Link: http://www.egi.co.uk/news/danescroft-buys-west-drayton-resi/?keyword=westdrayton