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Dragon builds London den

Dragon's Den star James Caan plans to build a £140m canalside apartments scheme in north west London.

Hamilton Bradshaw, Mr Caan's private equity and property development firm, has submitted a planning application for the Wembley scheme. Over the past three years, Mr Caan has bought former industrial properties at the seven-acre site that have suffered 40-to-50 per cent slumps in prices as a result of the downturn.

He said that the scheme is being reviewed by London Mayor Boris Johnson. "Boris genuinely, really likes it," he said. Built on the bank of the Grand Union canal, there will be 468 apartments and a 60,000 sq ft James Caan Innovation Centre, which will provide employment opportunities. Up to 30 per cent of the apartments will be affordable housing, as defined by the Mayor's housing team.

Many of the construction materials will be transported by water, which will prevent some of the traffic issues caused by big property developments.