Polyteck joins forces with Northridge Capital to deliver multi-million pound housing project
Polyteck and Northridge Capital have today announced a joint venture agreement which will see the development of a multi-million pound mixed use commercial and residential scheme in East Dulwich.
The £14m development, known as 18-22 Grove Vale, will consist of 20 new build apartments and 7000 sq. ft. of commercial, retail, and library space, adjacent to East Dulwich Station.
It will include a mixture of 1, 2 and 3 bedroom private apartments – all built to life time homes and code level four standards. The ground and basement commercial space will be let on a long-term lease to Marks and Spencer, with an additional commercial space to house a library to deliver the council requirement in the area.
The scheme is the first joint venture between the companies and will be finished in April 2018. Private units are currently being launched for sale.
John Polycarpou, Polyteck chairman, said:
“We are delighted to partner with Northridge on this project. It reinforces our long-term growth strategy of developing more joint venture framework agreements across London and its suburbs which involve council-owned sites or privately-owned landowners.
“As a business, we are proud of our ability to work on a broad range of complex and challenging projects. Due to its proximity to the railway, this will be a particularly challenging build but we are confident that our management and delivery team will create a development that will make a significant impact on the area.”
Polyteck has recently secured other significant land projects, working on a joint venture basis with other London council regeneration teams to develop more than 300 mixed private and affordable homes in Burnt Oak and Haringey.