UK real estate company investor Amro Partners is developing a £170m (€200.1m) residential project in southwest London.
Amro Partners said it has acquired a 200,00sqft 1970s office building in Sutton for the build-to-rent project which will deliver 450 new homes.
The development is scheduled to commence on site in early 2024 and the completed property opening in 2026.
Raj Kotecha, co-founder and managing director of Amro Partners, said due to the embodied carbon reuse, the project will be one of the most sustainable residential buildings in Europe upon completion.
“Demand for energy-efficient, professionally managed rental homes is strong and growing, and this project will help meet the needs of young professionals and families locally while playing a key role in the wider regeneration of Sutton town centre on an important ‘Station Gateway’ site.”
Kotecha said the acquisition represents a major milestone in the evolution of Amro since “we launched a decade ago, taking us over £1bn in total transaction volume, and we remain focused on our target of delivering 5,000 highly sustainable multifamily homes across the UK over the next five years”.
The residential living specialist said it has over 2,000 purpose-built rental homes under development across Greater London and is seeking further land opportunities across London and key regional city locations to expand its build-to-rent platform.
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