Member Article

Property JV gets the go ahead for £13.5m Chiswick scheme

The recently established property joint venture (JV), Obsidian Strategic, has announced it has been given the green light to develop a £13.5m scheme in west London.

The development in Chiswick will see the development of six townhouses on the former car park site in Horticultural Place, and marks the first development to get underway since the £100m JV was launched in October.

Bringing together investment and development firm Martin’s Properties and developer BlackOnyx, the developers have embarked on a drive to secure land in outer prime areas in and around London.

Designed by architects Scott Brownrigg, Wedgwood Villas, named after the founder of the Royal Horticultural Society, will comprise three and four bedroom townhouses and include open-plan living areas, gardens and large roof terraces.

David Ardley, of Obsidian Strategic, commented: “Wedgwood Villas is a good example of the type of complex site without planning that we are looking to acquire through the new JV.

“It is a former car park site in a prime location and our development will enhance and add value to the surrounding area.

“The planning process took nearly a year to ensure that we were able to deliver highest quality homes with a basement car park. This will development will create an attractive new community for families and is part of our commitment to unlocking value from brownfield sites.”

Obsidian said it plans to formally launch the properties for sale in Autumn 2017.