Cushman & Wakefield’s Residential Capital Markets team has advised Solum – the joint venture between Kier Property and Network Rail - on the off-market disposal of its Twickenham Gateway development to Meadow Partners.
Twickenham Gateway is the transformational re-development of Twickenham Station which includes a new station building in the centre of a public plaza, shops and a café at ground level, and 1, 2- & 3-bedroom apartments located above.
Upon completion of the deal, Meadow Partners, a private real estate investment firm, will own the final two residential blocks – known as B and C, as well as the commercial element – totalling 82 residential units, 4 retail units, 69,072 sq ft.
The entire development offers 121 new quality 1,2- and 3-bedroom homes. The scheme has been built on surplus railway land and supports the central government target for high density residential development around transport hubs and reducing pressure on the surrounding greenbelt.
In addition to the three residential units, the development forms part of a wider scheme to deliver £8.5m of infrastructure improvements, including a brand-new landmark station building, improved platform access, great transport links into London and a public plaza over half the size of Twickenham rugby pitch, hosting shops and a café for passengers and residents to enjoy.
Mark Clegg, Head of Residential Capital Markets at Cushman & Wakefield, said: “Located within both easy reach of central London and the more tranquil Royal Parks, Twickenham Gateway is a shining example of a strategically located and thoughtfully designed mixed-use development that will attract a vibrant range of visitors and residents – and therefore investors. The demand for opportunities to invest in sites such as this is incredibly high and from a broad range of capital sources.”
Tim Shaw, Head of Solum, commented: “We are pleased to announce this sale is now complete. Whilst block A and B have reached practical completion, block C is currently on site, due for completion in March 2022. The entire development brings a new lease of life to Twickenham with residents being able to access great transport links, retail and leisure. The location also has a riverside walk linking the town centre to Moormead Park for the benefit of the local community and improved crowd management on Twickenham Stadium event days.”
Steve Peggs, Development Director, Network Rail Property said: “The Twickenham redevelopment is already delivering meaningful improvements and opportunities for growth in the Twickenham area, by not only providing major station upgrades to ensure it is fit for passengers, but also delivering much-needed housing and facilities for the community. Securing the deal with Meadow Partners is an exciting development and the investment will no doubt provide further value to the area in the future.”