Developer Montreaux has acquired a 2.6-acre site in Barnet, north London, for a £100m mixed-use residential and supermarket development. It has acquired the former Fiat car dealership in Colney Hatch from a French private investor for £16m. The acquisition was backed by loans from ASK Real Estate and OakNorth. Montreaux will develop 200 flats and a 20,000 sq ft supermarket. It is in talks with Lidl and Aldi over a potential prelet. The developer will submit a planning application to Barnet Council in the first quarter of next year, and has a target to begin construction in the fourth quarter.
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