New plans submitted for residential phase of The Old Vinyl Factory, HayesMon 20 Apr 2015
HUB has submitted new plans for a phase of residential development comprising 237 new homes at Cathedral Group (Holdings) Ltd and Development Securities’ Old Vinyl Factory development in Hayes, west London. The residential development site, part of this wider mixed-use regeneration project, was purchased in partnership with Bridges Ventures, the specialist sustainable and impact investor.
The housing developer – which specialises in creating homes for London’s middle-income market – will be taking forward the development of both the Boiler House and Material Store, which together had outline planning consent for 213 homes. Detailed planning consent was granted for the Boiler House in Q1 2014.
HUB re-submitted detailed plans for the Boiler House, retaining incumbent award-winning architect Studio Egret West to fine-tune the 54-home scheme in line with their focus on simple, high-quality design and intelligent use of space.
HUB submitted detailed plans for the Material Store, engaging Newground Architects to design the brick-clad, environmentally conscious 183-home scheme.
The plans represent the latest phase to be announced at the £250m redevelopment of the site of the former HMV/EMI record factory in Hayes, west London.
The first phase of the regeneration scheme – the 132 home Gatefold Building being brought forward by a partnership between Invesco and Willmott Dixon – is already under construction.
The 17-acre scheme, one of the largest regeneration projects in west London, will create a new community with more than 630 homes and 750,000 sq. ft. of commercial and leisure space – including office space, a museum, restaurants, shops and bars.
Alongside this, the redeveloped 100,000 sq. ft. Record Store building will become the home of the Central Research Laboratory. Inspired by the industrial heritage of the site and scientific advancements made by the EMI Central Research Laboratories, this will be the UK’s first full-service incubator for hi-tech manufacturing entrepreneurs combining research and development space with commercial training, mentoring, a small-batch production facility and seed funding.
Benefitting from the planned Crossrail connection at Hayes and Harlington station, the Old Vinyl Factory master plan was granted planning consent by the London Borough of Hillingdon on 19th April 2013, and is expected to generate 4,000 new jobs by 2022.
The development is the third by HUB, which was incubated by the founders of Squarestone in late 2012 as a developer of much-needed mid-market housing in London. It will join a development pipeline of over 500 new homes in developments in Acton and the Royal Docks.
Bridges Ventures’ Property Alternatives Fund has partnered with HUB on the project, with the partners exchanging contracts to acquire part of the Old Vinyl Factory for £9m last year.
Bridges uses sustainability and impact as a lens to identify investment opportunities that have significant growth potential precisely because they’re helping to solve society’s most pressing long-term challenges. Its property funds typically focus on investing in niche sectors, regeneration areas and buildings that are showing environmental leadership.