NEAT Developments and BlackRock Real Assets have received a resolution to grant planning consent for a £650m GDV mixed-use scheme in Walthamstow, London.
The co-location development comprises 33,000 sq m (circa 355,000 sq ft) of stacked industrial space alongside 1,800 new homes and a new waterside park overlooking the Walthamstow Wetlands.
Phase one of the 10-year development programme will see 18,000 sq m (circa 194,000 sq ft) of stacked industrial space over four floors delivered alongside 119 build-to-rent (BTR) homes – of which 35% are affordable – at Uplands Business Park on Blackhorse Lane.
The first phase will allow existing businesses on the estate to move into their new premises, while simultaneously freeing up the remaining land for phase two of the development, which will comprise 15,000 sq m (circa 161,000 sq ft) of new industrial space and up to 1,680 new homes.
The phased approach includes the redevelopment of the Forest Trading Estate and the demolition of all existing buildings and structures, with the exception of Uplands House.
High quality landscaping, tree planting and roof gardens will increase the biodiversity of the site by 20%. The development will also seek to reuse, recycle or recover 95% of construction and demolition waste and source building materials locally.
Youssef Kadiri, MD at NEAT Developments said: “Uplands is a case study on the potential of stacked developments to unlock mixed co-locations, enabling the shared use of limited space for both light industrial and residential space. It has taken four years and a lot of coordination between all parties to make this scheme possible, but we believe it could prove a template to help alleviate both the shortage of industrial and residential land in London and other large cities.”
Phase one construction works are due to start in 2025, with completion anticipated in 2027/8.
