London developer to deliver penthouse project in Hendon after previous “developer failures”

Award-winning developer Fruition Properties has been chosen as the partner for a complex Joint Venture airspace development in Hendon, North West London.

The project at Mulberry Close will create six penthouse apartments above three 1930s art deco blocks, as well as one new villa at ground level that replaces a caretaker’s property, in addition to “significant building improvements” to create modernised art deco buildings that meet the current and future needs of all residents.

Fruition Properties has worked with the freeholder board, Mulberry Close Properties Limited (MCPL), which represents 96 leaseholders in the blocks, to agree a JV that represents a “win-win” for all parties, revising an extant planning permission to ensure an implementable permission and the quality of accommodation required.

Under the agreement, Fruition Properties, which has both “significant airspace and sensitive Grade II conversion” experience, will undertake the airspace and villa development along with key upgrade works to improve the existing buildings.

Some of the construction of the apartments will be done off-site to reduce disruption, whilst improvement work on the communal areas, fire regulations, intercoms, lifts, roof and parking areas will be delivered to Fruition Properties’ “usual high standards”.

It is also advising MCPL on its energy strategy for the medium and long term benefit of all residents. The result follows two attempts by previous developers who “failed to deliver” against their promises and were eventually rejected pre-contract by MCPL.

Mani Khiroya, CEO of Fruition Properties, commented: “This is a key example of where airspace development, when planned properly with the right consultation from the outset, can benefit all parties.

“We are working closely together with the freeholder board to ensure that the development meets the needs of both the existing and future residents, having undertaken significant leaseholder engagement both through the board and via direct engagement at the AGM.”

Paul Nisner, current chairman, added on behalf of MCPL: “The Board realised some years ago that to bring Mulberry Close up to 21st century standards and maintain the art deco look, we had to find a developer suitable for this demanding task.

“From the outset, the Board determined Fruition Properties understood what we wanted to achieve and that it would provide Mulberry Close with a high standard of finish and build quality.”

By Matthew Neville – Correspondent, Bdaily

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