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Telereal Trillium sells £80m residential scheme to Taylor Wimpey

Telereal Trillium sells £80m residential scheme to Taylor Wimpey

01 October 2020

Telereal Trillium has completed the sale of Hackney TSCV, a 1.5-acre former BT depot site on Fish Island in Hackney Wick, to Taylor Wimpey.

Located just west of the Queen Elizabeth Olympic Park and a couple hundred yards from Hackney Wick Station, the site has planning permission, secured in December 2018 by Telereal Trillium, for 145 high-quality apartments across four new buildings, of which 50 will be affordable.

The plans also include 23,000 sq. ft of commercial space at ground level, fronting the public realm. The development will offer a number of facilities, including parking spaces and cycle storage as well as a 24-hour concierge, communal garden, balconies, and a residents’ viewing room.

The proposed development, designed by the leading architecture and interior design firm Carey Jones Chapman Tolcher (CJCT), promotes the ongoing urban renewal and regeneration of Hackney Wick, which has benefitted significantly from its proximity to the Olympic Park.

A key driver for the redevelopment of the site is to enhance the public realm locally around Fish Island and provide a new pedestrian route to the upgraded Hackney Wick Station. The route also reinstates a lost historic street and brings strong active street frontages around the site.

The scheme forms a key component of the London Legacy Development Corporation’s (LLDC) regenerative Masterplan for the area surrounding Hackney Wick Station - the Hackney Wick Fish Island Retrospective Masterplan - which in 2019 was recognised with the Planning Award for Placemaking at High Densities.

Previously used by BT for storage and back of house operations, the existing warehouse and associated office buildings were vacated by BT at the end of 2019.

Jonny Pitts, Planning & Disposals Director at Telereal Trillium said: 

“We are delighted to have reached an agreement with Taylor Wimpey on the sale of the property. Hackney Wick is becoming an increasing popular place to live and work and one of London’s most dynamic and creative neighbourhoods and we believe Taylor Wimpey are well placed to deliver this quality product.”

David Pelle, Land & Planning Director at Taylor Wimpey East London, said: 

“We are delighted to have completed the purchase of this fantastic site from Telereal Trillium, our third land acquisition in the Hackney Wick area in the past three years. We look forward to delivering this exciting development to our customers in the not too distant future.”

Telereal Trillium were advised by Sean Cooper at Savills, and Ashurst on the scheme. Taylor Wimpey were advised by Osborne Clarke.