UK real estate company Sable Capital has acquired a 176-flat BTR development in Hackney Wick, delivered by O’Shea Group and Galliard Homes.
The Wickside scheme — located between Hackney Wick overground station and the Hertford Union canal — is set across an 8.4-acre site and arranged around a series of courtyards and squares with interconnecting streets promenades and a linear park.
It will offer one-, two-, and three-bedroom apartments, in addition to a range of duplexes and townhouses.
All residents will benefit from their own private terrace or balcony, as well as a residents-only lounge area and rooftop gardens.
In addition to this, the BTR scheme will include a range of other amenities, including an art gallery, shops, canal-side restaurants and bars, a foundry, co-working space and creative studios.
The development will also deliver a new bridge to Fish Island and a new access way to Hackney Wick station, which is located 150 metres from the site.
A number of existing heritage assets will be retained to ensure the site’s industrial history is reflected strongly in the scheme.
The BTR scheme will be delivered by Galliard Homes and O’Shea Group, with the first apartments expected to be finished in 2025.
Hugo Black, partner at Sable Capital, said: “While rental inflation is cooling, year-on-year rental growth remains historically high compared to the pre-pandemic years.
“The rolling number of new applications, permissions granted and construction starts across London in Q1 24 were all more than 60% below their previous peaks according to Molior.
“We expect the lack of supply relative to demand will keep rental inflation at a level above the long-term average and supported by ongoing wage growth.
“This is a highly appealing site in close proximity to Hackney Wick overground station and conservation area, sitting to the north of the Hertford Union Canal and between the 213-acre Victoria Park and the 560-acre Queen Elizabeth Olympic Park.
“We are confident that Wickside will provide the very best of London BTR living and are looking forward to working with O’Shea and Galliard to deliver this major regeneration landmark.”
In a joint statement, Stephen Conway, CEO and executive chairman at Galliard Homes, and Rory O’Connor, executive chairman of O’Shea Group, stated: “We are delighted to partner with Sable Capital on the Hackney Wick BTR development.
“Wickside represents a unique opportunity to blend modern living with the rich industrial heritage of the area.
“This project will not only provide high-quality homes, but also create a vibrant community hub with a variety of amenities and public spaces.”
