Amro Partners, in partnership with Flemyn, has acquired the Croydon Park Hotel in Croydon, South London for a new £200 mln (€240 mln) Build to Rent project.
The project, purchased unconditionally, will deliver circa 600 new Build to Rent units with shared amenities including roof terraces, lounge areas, co-working spaces, a gym/wellness centre and cinema room.
Located just a two-minute walk from East Croydon strain station, the development will target a BREEAM ‘Outstanding’ rating, and WiredScore Platinum. Construction is anticipated to begin in spring 2023 with a completion date in 2025, after which the project will be managed by Amro’s operational platform, Amro Living.
Raj Kotecha, co-founder and managing director of Amro Partners, said: ‘Croydon is a proven location for Build to Rent and we are focused on delivering a market-leading Net Zero Carbon - or better - asset that will set a new standard for purpose-built rental housing in the town. There’s strong and growing demand among Croydon’s young professional population for high quality rental accommodation in a ‘live, work, play” setting and we look forward to working with our JV partner Flemyn LLP to deliver this exceptional new landmark building.’
