£100 Million Plan For Putney High Street Site
Former 'Blade' site to be mixed use residential-led development
Building on the right has been acquired for development. Picture: Google Street View
The former 'Blade' site which runs from Putney High Street to Putney Bridge Road has been acquired by new owners who say that they are planning a £100 million development.
Savills Investment Management and Trust Real Estate have said they intend to build a residential-led mixed use scheme at 45-53 Putney High Street and 329-339 Putney Bridge Road.
The one-acre site currently is the location of Boots, some restaurants as well as other shops and office space plus a large service yard at the rear.
The site is opposite the planned 56-70 Putney High Street development which was rejected by Wandsworth Council only for the decision to be overruled by Boris Johnson when he was Mayor of London. It is widely assumed that the new development will be of a similar height and scale to this one which is likely to add to concerns about the possibility of a 'canyoning' effect adding to the already severe pollution on Putney High Street.
Julian Symons, director of development at Savills IM, said: “We are very pleased to have acquired this exciting opportunity which has the potential to create a truly special residential led scheme to enhance and uplift this part of Putney. We are confident it will have strong appeal to locals and prospective occupiers and buyers.”
In 2012 residents fought against a development locally labeled as 'The Blade' which would have been 15-storeys high. At this time the developer's report stated that the two buildings currently on the site have "no historic or architectural value". At the time the local Thamesfield Councillor Rosemary Torrington, stressed that the councillors were in favour of developing the site, but said it had to be the right sort of development.
'The Blade' was rejected in 2012
The new owners are Savills Investment Management in a joint venture with Trust Real Estate. Savills IM said that, they are seeking to capitalise on a shortage of housing stock in the UK capital. In the property press it said,"The fund was targeting mid-market residential developments in select locations, aiming to deliver a net 15% return to investors".
No plans have been submitted as yet. The chair for The Putney Society told this website:
"The Buildings Panel of the Putney Society will contact the planners and ask to be involved with the pre-application that is bound to be coming soon".
May 14, 2016