Written by: Griffiths & Armour on: 23 Jun 2021
Griffiths & Armour secure insurance cover for HUB’s Wembley Link Project
Following an extensive market review, we are delighted to have secured and placed a comprehensive programme of insurance for the HUB Group and their latest development ‘Wembley Link’
As its name suggests, Wembley Link will be a crucial crossover between new regeneration developments in the town centre and those emerging around Wembley Stadium and the Wembley Park area. The development of this key site within the Wembley Housing Zone will transform the area and be carried out over two phases, creating up to 500 homes.
Working closely with London Borough of Brent and the local community, HUB Group has committed to delivering a project that ensures Wembley Link complements and enhances the Wembley Opportunity Area and delivers on the vision for the Wembley Housing Zone.
The project of mixed tenure homes was commissioned in partnership with Bridges Fund Management. Designed by Glenn Howells Architects, Wembley Link will also deliver 256 high quality one, two and three bedroom homes for private rent in two 17- and 19-storey brick buildings. Henry Construction has been appointed as the main contractor and work on the site is now underway.
“We are delighted to have successfully placed another ‘Build to Rent’ project working with our friends at HUB. From an insurance perspective the key challenge on this project was to ensure the risks associated with the ‘Basic Asset Protection Agreement’ from the adjacent rail network was properly insured as part of the overall placement. It’s an exciting time for this area of London and we are very pleased to be able to play our part in helping to deliver this important project.”
Griffiths & Armour Client Services Director, Roger Moore
Developer HUB and specialist investor Bridges Fund Management have agreed a deal with real estate investment company Realstar and global real estate investment, operating and development company QuadReal to forward-fund their £100m (GDV) Wembley Link development in north London, continuing their involvement in the revitalisation of the Wembley High Road area.
HUB and Bridges Fund Management purchased the land previously owned by Network Rail in January 2018 and received full planning consent from London Borough of Brent in March 2020. The previously overgrown and ill-maintained area of railway embankment will be revitalised into much-needed homes for private rent in the London Borough of Brent. Its status as a ‘link site’ between Wembley Central and Wembley Stadium means that once completed, the proposal will assist in re-defining the importance of Wembley’s town centre, acting as a catalyst for further investment and activity along the High Road.
“HUB have partnered with the construction team at Griffiths & Armour for several years. We have found their technical capabilities invaluable in finding solutions on any insurance or risk issues arising in our requirements.”
Damien Sharkey, Managing Director at Hub
With extensive experience in the construction sector, Griffiths & Armour have a long established and respected reputation for providing innovative insurance solutions in all lines of construction risks for all elements of construction projects, from finance, project planning, and design through to operational risks. To find out more about Construction Insurance, please click here.
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