Construction firm tipped for major London property development
Construction firm McClaren has been tipped to win the race to build a £100 million development in north London, which will comprise two high-rise buildings offering more than 250 homes.
The Hale Wharf Project will be based in Tottenham, located on a strip of land between the River Lea navigation channel and the natural river.
Construction Enquirer stated it had spoken to a source close to the situation, who revealed the firm was close to beating off competition for the contract from Bouygues and Galliford Try.
It quoted the unnamed individual as saying: “It is now looking like McLaren will secure the project.”
The property scheme is being developed by Muse and the Canal and River Trust. Built in two storeys, the project will feature blocks of 21 and 16 storeys respectively.
It is a part of a wider redevelopment of the Hale Wharf area, with plans for 505 homes to be built. Outline planning permission already exists for more apartments, over a third of them available at an affordable rent. The development will also include a new pedestrian access bridge from nearby Ferry Lane.
The scheme is part of a wider trend for apartment developments and high-rise schemes to be built outside of central London. Although Tottenham Hale is not particularly suburban, the area around the river is a comparative oasis, with reservoirs, canal and river channels and several parks.
Indeed, New London Architecture's Tall Buildings Survey recently revealed the capital had 510 buildings of more than 20 storeys in the pipeline by the end of 2017, up from 455 a year earlier. Of the 2017 towers, 458 were for residential use, comprising 106,000 units.
As well as the London-wide number increasing, the survey emphasised the widening geographical spread of taller buildings. Indeed, not only have more of these appeared in outer London boroughs, but in some cases - such as Bromley and Waltham Forest - this is now happening for the first time. Overall, a third of of tall buildings in the pipeline are in outer London.
This clearly indicates that property investors in London will be increasingly looking at hitherto unfamiliar parts of the capital in years to come as high-density developments become an increasingly common feature of the suburbs.