Regal London has agreed a deal to purchase a development site above Swiss Cottage tube station from Essential Living for an undisclosed price.
Planning permission was secured for 184 homes, commercial and community uses for the site at 100 Avenue Road in 2016, but following completion of the basement area the site has since stalled.
Regal London said it was committed to delivering the project “efficiently and at pace”, and will seek amendments to the existing permission to bring it in line with the latest fire safety requirements.
Marc Eden, investment director at Regal London, said: “As a business with its roots and heritage in Camden, Regal London are committed to bringing to bear our local knowledge and passion to delivering 100 Avenue Road. Our reputation is built on delivery, which is particularly important for projects such as this one that have been stalled for a significant period.
“Our vision is to continue building on our history and heritage in this area by establishing an enduring partnership with the local community, council and businesses, to shape a shared vision for how new places can contribute to a vibrant future for Camden long into the next century.”
Robbie Myerson, co-CEO of Essential Living, added: “We are pleased to conclude the sale to Regal London and finally see this site delivered. This will allow Essential Living to recycle capital and focus on the growth of its inner London PRS investment strategy.”
