The former RAF airbase drafted into service as a makeshift Olympic village for London’s 1948 “Austerity Games” changed hands today as developer St Modwen speeded up its plans for the site.
St Modwen and its joint-venture partner, France’s Vinci, has accelerated the outright acquisition of RAF Uxbridge from the Ministry of Defence, boosting public-sector receipts. The joint venture has planning consent for 1340 homes, 200,000 square feet of office and retail space, as well as a new school, a 1500-seat theatre and public park. Work on 500 new homes will begin by the end of the year.
The air base, which closed in 2010, is the biggest development site in West London. St Modwen refused to say how much the site changed hands for, but bought it with a £60 million five-year debt facility from HSBC.
