Property developer Neat Developments and BlackRock Real Assets have achieved planning consent for a mixed-use scheme comprising 33,000 m2 of stacked industrial space together with 1,800 new homes.
Around 35% of the site will be public open space, including a new waterside park overlooking the Walthamstow Wetlands near London.
The scheme is anticipated to involve a 10-year development period and will represent over £650 mln (€760 mln) in investment by site owners BlackRock Real Assets.
Phase 1 will consist of 18,000 m2 of new stacked industrial space over four floors and 119 build to rent (BTR) homes, of which 35% are affordable. This first phase will also allow existing businesses on the estate to move in, while simultaneously freeing up the remaining land for phase 2 of the development.
Phase 2 of the development will comprise 15,000 m2 of new industrial space and up to 1,680 new homes. The phased approach includes the redevelopment of the Forest Trading Estate, and includes the demolition of all existing buildings and structures, with the exception of Uplands House.
The development is targeting BREEAM Excellent for the industrial and commercial buildings.
Youssef Kadiri, MD at Neat Developments said: 'Uplands is a case study on the potential of stacked developments to unlock mixed co-locations, enabling the shared use of limited space for both light industrial and residential space. It has taken four years and a lot of coordination between all parties to make this scheme possible, but we believe it could prove a template to help alleviate both the shortage of industrial and residential land in London and other large cities.'
The start of Phase 1 construction works are due in 2025, with completion anticipated in 2027/8.
