A 21.2-acre prime riverside London residential development site has hit the market which is expected to have an end value as high as £1bn.
Gerald Eve has been appointed by drinks giant AB InBev to sell the Stag Brewery on Lower Richmond Road in Mortlake, SW14, one of London’s most well-off and leafy areas.
The brewery, which has been the site of beer-making since 1487 as part of a monastery and today is where Budweiser is produced, is estimated by market sources to have a value in excess of £100m. The site has capacity for around 850 homes.
It is the latest riverside residential development opportunity to become available as the capital’s housing market continues to boom, with more than 13,000 homes planned along the Thames.
It does not currently have planning permission, although Richmond council has included it as a residential-led site in an adopted planning brief which also includes a mixture of restaurants, shops, community leisure, a museum and boathouses.
The Stag Brewery is located on the south side of the river, adjacent to Chiswick Bridge – the finish line of the annual Oxford Cambridge boat race.
The brewery currently consists of 353,000 sq ft of non-listed largely industrial buildings.
Alex Gillington, partner at Gerald Eve, said: “With its riverside position and location in one of London’s most-affluent and in-demand boroughs, this site is one of the capital’s most exceptional development opportunities and, as such, is anticipated to generate considerable demand.”
InBev, which has a turnover of $47bn (£30.2bn), is expanding its operations in Magor, South Wales, and Samlesbury in Lancashire, and is taking advantage of current market conditions in London.
The Stag Brewery will remain open until at least the end of this year. It has been mooted for closure since 2009, when AB InBev announced a cost-cutting plan.
