To Hounslow Property Development Company (HPDC) was set up in 2019 by Inland Homes as a vehicle to develop an old Ministry of Defence site, Cavalry Barracks, near Heathrow.
Inland Homes sold HPDC to Croydon-based Topaz Developments on August 2020, owned by Hasmukh and Tej Shah.
Cavalry Barracks remained an Inland Homes scheme, however, with plans to build 1,600 homes and 2,673 sqm of non-residential floorspace for community and commercial use.
On 28th September Inland Homes announced its intention to appoint administrators. On the same day administrators from Kroll’s real estate advisory group were appointed to HPDC, putting Cavalry Barracks back up for grabs.
At nearly 37 acres, the former MoD site is one of the largest undeveloped brownfield sites in London. The original development plan was to refurbish 14 Grade II listed buildings and nine locally listed buildings.
Joint administrator Rob Armstrong said “It is clearly a challenging time for companies operating in the real estate sector. We are assessing all the possible options related to this site and the company as a whole.”
Annika Kisby, managing director of Kroll’s real estate advisory group, added: “This site is one of London’s largest remaining brownfield sites. Cavalry Barracks provides a major opportunity and is significant for a wide range of stakeholders across the capital. Kroll’s real estate team is looking forward to bringing our range of skills to maximise the realisation of the asset.”
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