Obsidian Strategic, the joint venture set up by Martin’s Properties and developer BlackOnyx, has got the green light for its first project.
Planning permission has been granted for the £13.5m Wedgwood Villas scheme in Chiswick, which will comprise six townhouses on a former car park site in Horticultural Place.
“Wedgwood Villas is a good example of the type of complex site without planning that we are looking to acquire through the new JV,” said BlackOnyx managing director David Ardley.
“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.”
Obsidian Strategic is looking to build up a £100m land portfolio in the next five years.