The former 37-acre home of the Irish Guards will be redeveloped as a mixed-use scheme comprising 1,525 homes and around 2,700sqm of commercial space.
Inland’s asset management division is acting on behalf of the third-party project investor. The deal will rank as the group’s fifth transaction with the MoD and its largest to date.
Under the asset management model, in return for its land and planning expertise and the management of the project, the group has, to date, accrued fees at achieved project milestones of £19.5m.
Inland will continue to act on behalf of the project investors to finalise the terms of the Section 106 agreement, which is expected to be signed within the next few months and then support the investor through the site disposal plan, which will crystallise the value and facilitate the payment of the fees.
As part of the approved plans, 14 Grade II listed and 9 locally listed buildings will be retained and 10.6 acres of open space provided.
Nish Malde, interim chief executive officer at Inland Homes, said: “The historical significance, location and scale of the Cavalry Barracks make this an exceptional brownfield site and we are delighted to have worked with the London Borough of Hounslow to have secured a resolution to grant planning permission on behalf of the project’s investor.
“We look forward to finalising the terms of the section 106 as quickly as possible so that the next phase of the Cavalry Barracks’ story can begin.”