London-based investor-developer, Avanton, and international real estate investment group, Canada Israel, have secured planning permission for a new development in Brent.
The £300million transformation project, Stonebridge Place, will deliver 515 homes alongside commercial space, marking a significant milestone in the regeneration of the site formerly known as Wembley Point.
Designed by award-winning architects, Patel Taylor, Stonebridge Place aims to redefine the urban landscape and will consist of three distinct buildings, with a 32-storey tower finished in terracotta as the centrepiece. Upon its completion in 2027, this iconic tower will stand as the tallest building in Brent.
The development will add to the existing Stonebridge Park community, which came to life following the introduction of WEM Tower, a landmark residential building also designed by Patel Taylor and managed by Canada Israel.
As well as providing new homes, the JV will also include a commitment to the local community. As a result, Stonebridge Place will host the ‘Stonebridge Boxing Club’ within part of its commercial space, supporting a local charity with a mission to develop promising young boxers and make a positive impact in the area.
Originally submitted for planning approval in February 2022, the scheme included an ambitious 35% provision for affordable housing. However, in response to rising construction costs and interest rates, a collaborative decision was reached to reset the affordable housing allocation to 25%. This adjustment ensures the project remains financially viable while still making a substantial contribution to the local housing needs.
Gil Selzer, UK managing director of Canada Israel, said: “We are thrilled to continue expanding our London portfolio with the introduction of Stonebridge Place. Building on the incredible success of WEM Tower, this new development reaffirms our commitment to delivering a stylish and high-quality residential experience for young adults in London.”
Pankaj Patel, director of Patel Taylor, said: “Stonebridge Place reflects a harmonious blend of aesthetics and function, offering a dynamic and sustainable living environment. Our design ethos aspires to forge a development that not only resonates with the local culture and the aspirations of its residents but also stands as an innovative landmark, proudly becoming the tallest structure in the area.”
Chris Cobham, development director of Avanton, commented: “The acquisition of the site in 2018 marked the beginning of a challenging planning application process and we have worked closely with the environmental agency, Brent Planning, and the Greater London Authority (GLA). We are immensely proud of the outcome, which will bring much-needed homes to the allocated site, conveniently situated next to Stonebridge Park station on the Bakerloo Underground Line. The excellent transport links directly into the city centre make this an ideal location for residents.”
The London Borough of Brent is currently undergoing a remarkable transformation, having been designated the borough of culture for 2020. With a staggering £3billion investment, this dynamic area is experiencing a renaissance that includes the creation of 10,000 new jobs and 11,500 homes across 30 different sites. It stands as one of Europe’s largest regeneration projects, turning Brent into one of London’s most desirable areas to live, work, and study.
