Invesco Real Estate to invest £54.5m for build-to-rent project in London

Invesco Real Estate (IRE) has announced £54.5m forward funding of a build-to-rent project in South London for its residential strategy.

In conjunction with London developer CNM Estates, IRE is developing 180 build-to-rent residential units in Sutton, South London. The project will see a newly-built 20-storey development called the “East Tower” comprising 1, 2 and 3-bedroom apartments and penthouses, and is expected to be delivered in July 2018.

The Sutton project follows IRE’s recent announcement of the investment of £116m and management of a portfolio of 580 PRS units across the South-East and South-West of England with partner PLATFORM_, in addition to residential projects in Spain and Germany.

John German, senior director, Residential Investments at Invesco Real Estate comments: “We are delighted to announce our Sutton project, the most recent investment for our UK build-to-rent strategy aiming to provide long-term income returns for our investors.”

“In Sutton we have developed a product which is tailored to the local rental market and is expected to attract sharers, young professionals and young families. There is strong tenant demand for build-to-rent in this location given limited availability of rental units,” German said.

ABOUT THE AUTHOR
Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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