Amro Partners has acquired a 200,000 sq ft (18,580 m2) office building in Sutton, south of London, for its next Build to Rent project, taking its total transaction volume since the company’s inception in 2012 to over £1 bn.
The £170 mln GDV project will deliver circa 450 new Build to Rent homes with shared amenities including co-working spaces, gym and wellness centre, residents’ lounge, cinema room and roof terraces, located directly opposite Sutton train station.
The building will target ratings of BREEAM Outstanding, Fitwel 3* and WiredScore Platinum in line with Amro’s pledge to become a net zero carbon company by the end of 2025.
The site has been purchased subject to planning, with development work 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, this 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.’
Residential living specialist Amro Partners 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.
Earlier this year it announced the acquisition of the Croydon Park Hotel for a £200 mln GDV Build to Rent project and the purchase of a brownfield site near Ilford Station in East London as part of a land assembly play that will deliver a substantial BTR-led missed-use scheme.
The Wiltern, Amro’s 278-bed BTR scheme in Ealing, adjacent to the iconic Art Deco Hoover Building, is currently under construction and will open its doors to residents in late 2023.
