Councillors in Brent have backed Access Self Storage’s plans for a £300m build-to-rent scheme next to Wembley park.
The committee on 28 April voted 4-3 in favour of the scheme, despite concerns over a lack of affordable and family housing.
Plans for First Way will see 600 BTR flats alongside a 60,000 sq ft storage facility. It comprises five blocks of 12 to 24 storeys on the 2.3-acre site.
Access Self Storage will halve the storage space on the site, with the new facilities provided on the ground floor of the residential blocks.
The BTR spans 410,000 sq ft of space, with assumed rents of £36 per sq ft and a projected yield of 3.75%. The development includes 10% affordable housing.
The scheme is the latest in a wider BTR strategy for the company, as it seeks to unlock investment at sites close to Crossrail hubs in outer London.
It follows the One Station Road site in Ilford, with further BTR sites including the Kingston Road scheme in Merton and Eagle Wharf in Hackney.
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Photo: Collado Collins Architects
