Avanton adds 800 homes to BTR platform
Avanton is to put 800 homes it is developing in London into its A:Living BTR brand.
The two new developments, at Old Kent Road and Wembley, will also include a hotel-style concierge, gymnasium and work-from-home business centre.
Avanton’s £730m Ruby Triangle site, on the Old Kent Road in Southwark, will do most of the heavy lifting, providing 700 flats along with a sports hall and gym for tenants. The £250m Stonebridge Place scheme in Wembley (pictured) will provide around 100 BTR homes, along a with boxing gym, café and landscaped gardens
Avanton is to put 800 homes it is developing in London into its A:Living BTR brand.
The two new developments, at Old Kent Road and Wembley, will also include a hotel-style concierge, gymnasium and work-from-home business centre.
Avanton’s £730m Ruby Triangle site, on the Old Kent Road in Southwark, will do most of the heavy lifting, providing 700 flats along with a sports hall and gym for tenants. The £250m Stonebridge Place scheme in Wembley (pictured) will provide around 100 BTR homes, along a with boxing gym, café and landscaped gardens
The branding follows the launch of the A:Living brand at Avanton’s flagship £260m Coda development in Battersea, where 20 BTR homes were released onto the lettings market through Savills.
In just over three weeks all 20 units have let at rents between £3,500 pcm and £4,000 pcm on 12-36 month tenancies, with standard break clauses. The pilot scheme generated a total rent roll of more than £700,000 pa.
Avanton previously announced plans to expand into the BTR sector, with several pipeline projects alongside a £500m fund for strategic land acquisitions.
The 700 BTR homes at Old Kent Road will account for around half of the 1,414 new homes planned for the Farrells-designed scheme, which will comprise a cluster of residential towers of between 17 and 48 storeys around a central park.
In Wembley, Avanton and project partner Canada Israel have recently submitted a planning application for the regeneration of the 2.5-acre Wembley Point site on Harrow Road. It wants to build a £250m scheme, named Stonebridge Place, providing 515 homes.
Sales and marketing director David Ronson said: “We are delighted by the success of the A:Living build to rent units at Coda. The success of this pilot scheme demonstrates the significant demand for the premium product and lifestyle offering at Coda, and the launch of our first BTR units, which offer a new type of high-quality tenure option for Londoners.
“BTR homes provide a solution to help with the capital’s housing shortage, and these multiple tenure schemes offer tenants a sought-after lifestyle at competitive prices.”
Omer Weinberger, chief executive at Avanton, added: “London’s BTR sector is rapidly growing in size, quality and product range and last year Avanton announced a three-year expansion into this sector, seeking land and strategic opportunities to deliver high-quality purpose-built stock to meet the market demand. Our successful launch of A:Living is an exciting step, with our pipeline developments set to further deliver a diverse portfolio of build-to-rent units for young Londoners to choose from.”
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Image from Canada Israel/Avanton
