Residential developer HUB and specialist investor Bridges Fund Management have agreed a 100m deal with Legal & General to develop a 251-unit build to rent tower at the heart of the Taberner House development in Croydon, south London.
The forward funding deal will see Legal & General take ownership of the 35-storey building. Designed by Stirling Prize-winning architect AHMM, the building comprises a mix of one-, two- and three-bedroom apartments, with rooftop amenity space, communal facilities on the ground and first floors and a ground floor commercial unit.
The tower is the tallest of the four blocks that comprise the Taberner House development, which also includes 21-, 19- and 13-storey buildings. The development will provide 513 homes, with a mix of affordable, for sale and rental units, as well as new public realm, a childrens play space and a new caf. At least 40% of the units will be designated as affordable.
As part of the development, The Queens Gardens, which are adjacent to the site, will be enlarged and revitalised, with new landscaping and amenities. HUB and internationally renowned landscape architect Grant Associates are working closely with local people, in a large collaborative design process, coordinated by consultant Kaizen, to understand their ideas and priorities to make sure these are reflected in the final design of the park. The deal with Legal & General comes as construction work commenced on the scheme this week, after Henry Construction was appointed as main contractor.
The forward funding deal will see Legal & General take ownership of the 35-storey building. Designed by Stirling Prize-winning architect AHMM, the building comprises a mix of one-, two- and three-bedroom apartments, with rooftop amenity space, communal facilities on the ground and first floors and a ground floor commercial unit.
The tower is the tallest of the four blocks that comprise the Taberner House development, which also includes 21-, 19- and 13-storey buildings. The development will provide 513 homes, with a mix of affordable, for sale and rental units, as well as new public realm, a childrens play space and a new caf. At least 40% of the units will be designated as affordable.
As part of the development, The Queens Gardens, which are adjacent to the site, will be enlarged and revitalised, with new landscaping and amenities. HUB and internationally renowned landscape architect Grant Associates are working closely with local people, in a large collaborative design process, coordinated by consultant Kaizen, to understand their ideas and priorities to make sure these are reflected in the final design of the park. The deal with Legal & General comes as construction work commenced on the scheme this week, after Henry Construction was appointed as main contractor.