Henley to start £300m resi and last mile project in London
Albert and Swedish Wharf in Fulham, London, is set for a new £300 million residential and logistics development as Henley Investment Management has completed the acquisition of the land on the site.
Construction work will begin early next year. Henley has also secured new funding for the project, entering into a joint venture agreement with an unnamed global investment office investor to redevelop Albert and Swedish Wharf, one of the last remaining undeveloped riverside locations on the River Thames.
“Working with our new joint venture partner represents a tremendous boost to the scheme and is a real signal of the confidence and conviction in this exciting project,” said Ian Rickwood, chief executive, Henley Investment Management. “London is crying out for both sustainable new homes and employment space in prime locations, and this development boldly ticks all these boxes.”
The scheme will transform the under-utilised two-acre site by Wandsworth Bridge on the north bank to provide a 55,000 sq ft last mile logistics facility alongside a 276-apartment scheme on a prime, 2.1 acre site by the River Thames.
The development, which has planning approval from the London Borough of Hammersmith and Fulham, will include the new wharf along with ancillary office space provided to support day to day activity.
The last mile logistics hub will bring the working wharf back into use. “The River Thames has huge untapped potential for handling light freight and utilising the river more will help ease congestion and reduce pollution across London,” said Rickwood. “The development will completely transform this part of the riverfront and the continuation of the Thames Path will create riverside access for new residents and the existing community.”
Alongside an operational wharf, the site will be transformed into a cluster of six to 17-storey residential buildings with 276 apartments. The apartments will range in size from studio to four-bed and 35% of the new homes will be affordable, with a mix of social rent and intermediate rent. The new apartments will benefit from a prime riverside location and each apartment has a private balcony or terrace.
The development will have excellent sustainability credentials, Henley said, including optimised passive energy measures, a 5th generation heat network, and improvements to land and marine biodiversityd. A café or restaurant on the upper courtyard will open out onto the Thames Path, which has been extended as part of the proposals to provide public access along this stretch of the river.
