Obsidian Strategic – the JV set up at the end of October by Martin’s Properties and BlackOnyx – has been given the green light by planners to develop its first project; a high-end boutique scheme in Chiswick.
1-6 Wedgwood Villas (named after the founder of the Royal Horticultural Society John Wedgwood) will deliver six townhouses with “exceptional specification” in a gated development on a former open-air car park site, Horticultural Place, just off Turnham Green.
The six four-bed properties have been designed by Scott Brownrigg architects to combine a contemporary look with traditional materials. Set around a traffic-free courtyard, they each get three bathrooms, open-plan living areas, gardens and large roof terraces, as well as secure underground parking and cycle storage.
The £13.5m scheme will be formally launched for sale in the Autumn 2017.
Obsidian was formed by Chelsea-based investment and development company Martin’s Properties, and luxury resi developer BlackOnyx, with grand plans to build a £100m land portfolio in outer prime areas in and around the capital, with a focus on “complex sites with scale and potential to create added value”.
David Ardley, of Obsidian Strategic and BlackOnyx: “Wedgwood Villas is a good example of the type of complex site without planning that we are looking to acquire through the new JV. It is a former car park site in a prime location and our development will enhance and add value to the surrounding area. The planning process took nearly a year to ensure that we were able to deliver highest quality homes with a basement car park. This will development will create an attractive new community for families and is part of our commitment to unlocking value from brownfield sites.”