Outpost Management, the London rental residential platform, has struck a forward-funding deal for a 462-unit development in North Acton, London, through its JV with BlackRock Private Markets from developer and contractor, Tide.
The North Acton site, currently called The Castle, will be operated by Outpost Management under its Enclave brand and is the third asset to be acquired by the firm’s JV with BlackRock Private Markets, through its Real Estate business. Having already invested £500 mln (€583 mln), the JV plans to commit an additional £500 mln, totalling £1 bn of investment in UK residential assets.
It follows the acquisition, development and opening of Enclave: KX in London in 2022, and the acquisition of Enclave: Birmingham in 2023, where phased completion is expected from summer 2025.
Tide is delivering the project using its offsite manufacturing arm, Vision.
Parties to the transaction said the sale demonstrated the ongoing market ‘appetite’ for Tide and Vision’s ‘volumetric technology’, which it claims delivers construction times of up to 50% faster than traditional builds. It also is said to reduce waste and carbon emissions.
The North Acton development is a 32-storey, 220,000 ft2 residential-led, mixed-use scheme, designed by HTA. It will feature 462 co-living apartments, with 18,000 ft2 of amenity space across five floors, including a spa, lounge areas, private dining and co-working spaces, a library, bespoke gym, cinema and games rooms. Residents will also be able to enjoy a 2,000 ft2 landscaped roof terrace on the 32nd floor, giving extensive views across London.
In addition, the scheme will feature a new 3,500 ft2 public house, replacing the previous pub, The Castle. The scheme is due to open in summer 2025.
