The site, formerly home to the GlaxoSmithKline and J. Lyons & Co. operations, will comprise mixed use development with a significant focus on rental housing but also including for-sale residential, employment, active retail, amenity, and community uses.
Greystar said that upon completion it will be the largest purpose built rental housing development created in the UK.
The development is part of Greystar’s plans to introduce its multifamily proposition to the UK market.
Greystar is the largest multifamily operator in the US and a large operator of student housing in the UK, and manages over 410,000 residences worldwide.
Wes Fuller, executive managing director, Greystar, said: “We have aspirations to build a large portfolio of purpose designed and developed rental housing in London. The under-supply of housing in London represents an attractive investment opportunity for us and our partners. As a vertically integrated company, we intend to develop and operate the project utilising our team in London.”
Mark Allnutt, managing director, Greystar UK Multifamily Team, said: “Greystar’s approach to our sites, with total immersion from conception to planning and development to long-term management, allows us to offer residents the benefits of a high-quality home without compromise. We are working closely with the local community and the London Borough of Ealing to regenerate the site and create a true, sustainable, community.
"The Greenford site represents our opportunity to introduce an entirely new way of living to the UK. The multifamily model allows people of all ages and life stages to enjoy the benefits of fully-managed properties with superior specifications and amenities. We believe that this marks the beginning of a revolution in the UK property market, and are proud to be leading the way.”
