Ballymore Group and Oxley Holdings are seeking an investment partner to work with the companies on their entry into the build-to-rent (BTR) market
Ballymore has announced its strategic commitment to large-scale BTR developments, which will be initiated at a new development at Deanston Wharf (pictured above), London.
The scheme is being developed in a 50/50 JV between Ballymore and Oxley and is part of the Royal Wharf regeneration project to create a new neighbourhood in east London.
Forward funding is being sought for 272 units, designed over two buildings, with construction set to begin in early 2019.
The properties will be built solely for rental purpose and offer high-quality accommodation at a range of sizes with river-facing views.
“As the BTR market grows in London, we at Ballymore believe that we are well placed to be part of this growth,” said John Mulryan, group managing director at Ballymore Group.
“Ballymore has large development and construction teams that finish around 2,000 homes a year, but more unusually we also manage our own estates.
“The combined knowledge and experience within our teams will allow us to design, build and manage purpose-built, BTR buildings to the highest standards.”
CBRE and Johns & Co have been appointed by Ballymore and Oxley to provide advisory and transactional consultancy on the project.
Peter Burns, managing director at CBRE UK Development, said there was strong demand for BTR projects in London.
“Ballymore and Oxley’s approach to development will be a welcome addition to the BTR space.
“This approach is highly complementary to BTR investors hungry for high growth and low maintenance costs.”
