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Fruition Properties has obtained approval for a massive development project of their site at 2 Scrubs Lane. The scheme will include 2,300 sq ft of commercial space, a new church, nursery and community facilities, as well as a 20-storey residential tower comprising 85 one, two and three bedroom apartments – 35% of which will be affordable, with 12 apartments for London Living Rent and 16 for shared ownership.
The cost for the regeneration will be in the region of £50 million, which has been part-funded by Propio, the crowdfunding platform set up by Fruition’s chief operating officer, Parul Scampion. Work on the project is due to start early 2019 and should be completed in 2021.
Mani Khiroya, Managing Director of Fruition Properties, says: “This is a hugely prestigious project for us, playing a key part in the wider regeneration of Old Oak and Park Royal – which when finished will deliver a new, highly connected district for London from underutilised land. The result demonstrates our values and commitment to working closely with the community, the local and wider London authorities to achieve an outcome that is beneficial for all parties. When complete, not only will 2 Scrubs Lane provide much needed new private and affordable homes but also improved fit-for-purpose community facilities that will allow the local area to flourish.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.