QuadReal Property has agreed to forward fund a £120m (€139m) build-to-rent (BTR) development in the UK under a new partnership with London Square.
The two firms have agreed their first partnership to deliver 241 BTR units at London Square’s Woolwich scheme in south-east London.
London Square’s 4.49-acre Woolwich site has secured full planning permission and Gateway 2 approval to deliver a 700-home, triple-tenure development. Alongside new homes, the project will feature shops, workspaces and public realm. Construction is scheduled to commence this spring, with completion targeted for 2029.
The asset will be managed by UNCLE, the residential operating platform owned by QuadReal.
Adam Lawrence, CEO 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 at QuadReal, said: “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 BTR and student housing platform to over 11,000 units.”
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