Weston Homes bought the historic 2.5-acre Watford Laundry Factory in northwestern London. Established in 1907 and serving the London hotels for 105 years, in the laundry factory will be built with 227 apartment houses completed with parks and landscaping. The company paid 99m euros for the factory.

The project will be designed around a wide entrance boulevard covered with trees. The development of London will include 208 one, two and three bedroom private sales apartments and penthouse located in eight new apartments at a height of three to 11 floors.

Buildings will offer 162,000 m² of accommodation. Out of these, 19 affordable housing will be included in the project. The development will be completed with pedestrian roads, common landscaped areas, new green plantations, parking for 167 cars and secure bicycle parking.

The project, which will begin in the coming autumn, is expected to end in 2021.

Bob Weston, Chief Executive of Weston Homes, said: “Our acquisition of the Watford Laundry Factory is the latest in a series of site purchases that Weston Homes is in the process of undertaking as part of our ongoing major expansion. Over the last six months, the business has acquired 10 new sites including a series of major regeneration projects within Greater London. We now have a development portfolio of over 7,500 new homes with a completed value approaching €3.5bn (£3bn).”

Source: europe-re.com

Sevdenur Demir / [email protected]