Inland Homes has received planning permission for a £600 million redevelopment of the Ministry of Defence’s former Cavalry Barracks site in Hounslow, West London. The former Irish Guards’ 37-acre home will be redeveloped as a mixed-use project. Thus, it will have 1,525 homes and approximately 2,700 square metres of commercial space.
The asset management division of Inland is acting on behalf of the project’s third-party investor. Consequently, the transaction will be the group’s fifth with the MoD and its largest to date. To date, the group has accrued fees at project milestones of £19.5m under the asset management model. This is in exchange for its land and planning expertise and project management.
Inland will continue to act on behalf of the project investors to finalise the terms of the Section 106 agreement. It is expected to be signed in the coming months, and then support the investor. This is through the site disposal plan which will crystallise the value and facilitate payment of the fees.
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Construction at the former Cavalry Barracks site
The approved plans at the former Cavalry Barracks site include the preservation of 14 Grade II listed and 9 locally listed buildings. Additionally, there will be creation of 10.6 acres of open space.
“The historical significance, location, and scale of the Cavalry Barracks make this an exceptional brownfield site,” says Nish Malde, interim chief executive officer at Inland Homes. “We are elated to have worked with the London Borough of Hounslow to secure a resolution to grant planning permission. This is on behalf of the former Cavalry Barracks site’s investor. Consequently, we are eager to finalise the terms of Section 106 as soon as possible so that the next chapter in the Cavalry Barracks’ story can begin.”
