Mount Anvil wins planning for Wandsworth Business Village

Planning consent has been obtained for a mixed-use regeneration project at Wandsworth Business Village in south London for 209 apartments and an 80,000 sq ft business centre.

Developer Mount Anvil has entered a development agreement with Workspace Group, which provides businesses with office space across London, and which has obtained mixed use planning consent on this two acre site. A total of 53 apartments will be allocated as affordable housing as part of the scheme.

Harry Platt, chief executive of Workspace Group, commented: “We are delighted with this announcement. It shows the sort of potential that our portfolio offers in terms of releasing value over the medium and long term.”

The redevelopment of the site will be managed and funded by Mount Anvil. Construction is expected to commence in April and the scheme will be completed in mid 2014.

Under the arrangement Workspace Group will receive the business centre in return for granting Mount Anvil a 999 lease on the residential component, it will also retain the overall freehold of the site and 50% of any proceeds from the sale of the private residential apartments in excess of £50m.