Law firm Howard Kennedy has advised Aria Properties on the sale of the former Malgavita Works in Southall, London, to national housebuilder Redrow Homes Ltd. The sale, which completed on 7 July for £24.5m, comes with planning consent for a mixed-use residential-led development that will include 302 new homes. The Howard Kennedy team was led by Real Estate Development Partner Graham Kaye, who advised Aria Properties on its acquisition of the site in 2014, and was supported by Senior Associate Peter Birkett and the firm’s dedicated Planning team. Kaye says: “This is one of five sites in the Southall Opportunity Area that Howard Kennedy have advised on for various clients with combined values in excess of £100m. Our clients have worked closely with Ealing Borough Council to create a regeneration scheme of over 1,000 new homes which maximises the potential of the new Southall Station on the Queen Elizabeth line which is due to open in 2018.” Nainish Bapna, Aria Properties, says: “This is an important sale for Aria and we are thrilled that Redrow Homes will now develop out the Malgavita Works – it will be an exciting place to both live and work. We are grateful to Graham and his team for their support in acquiring the site in 2014 and its successful and smooth sale.”
The sale of the former Malgavita Works in Southall, London, to national housebuilder Redrow Homes was completed on 7 July for £24.5m. Law firm Howard Kennedy advised the seller, Aria Properties. The sale includes planning consent for a mixed-use residential-led development that will include 302 new homes.