QuadReal Property Group (QuadReal) has agreed a £120m deal to forward fund the delivery of 241 build-to-rent (BTR) units at London Square’s Woolwich development.
The new BTR homes will be managed by QuadReal’s UNCLE brand. The Woolwich scheme will provide 700 homes in total, including 337 (48%) affordable properties, which will be managed by The Hyde Group, on a 4.49-acre site.
The site benefits from full planning permission and Gateway 2 approval to create new homes, shops, workspaces and public realm.
Adam Lawrence, chief executive of London Square, said: “Through our first partnership with QuadReal, we will add a much-needed rental offering to the mix of new homes on offer in a neighbourhood that benefits from excellent transport links, amenities and green spaces. Partnering with a respected investor known for operational excellence and a renter first approach highlights the quality of our Woolwich scheme and the strength of London Square’s approach to design and delivery in the capital.”
Kristian Branum-Burns, managing director of QuadReal, added: “Our partnership with London Square is a direct reflection of our global investment strategy to deliver high quality, sustainable homes in well connected urban locations. This project joins our award-winning UNCLE portfolio, and we are confident this development will set a new benchmark for design, sustainability and placemaking, while creating long-term value for the local community. This development brings QuadReal’s UK built-to-rent and student housing platform to over 11,000 units.”
