UK: CompassRock International has bought the Stafford Yard BTR scheme in Bristol from its developer Dandara Living.
The scheme is one of the first to be completed within the strategic Bedminster Green Framework Area, and is located a mile from the city centre.
It features 295 studio, one- and two-bedroom homes and amenities including a games room, gym, coworking suite, TV lounge, house kitchen and dining space, lounges, roof terraces, courtyard gardens and private balconies.
The development’s sustainability credentials include connection to a District Heat Network, more than 300 secure cycle spaces, and easy access to the Malago Greenway cycle path, Metrobus and rail network. All homes have an EPC rating of BB, providing comfort and efficiency and the scheme is targeting 4-star Home Quality Mark (HQM) rating.
Jim Davies, CEO of Dandara Living, said: “The acquisition of Stafford Yard by CompassRock International marks another significant milestone for Dandara Living. It is our third transaction in the last six months, underlining the continued confidence in the UK Living sectors, and our position as a leading specialist in the design and delivery of large-scale Living developments.”
David Woodward, CEO of CompassRock, added: “We are thrilled to add this high-quality Build to Rent asset developed by Dandara to our UK portfolio. CompassRock’s property management group will run the day-to-day operations of this asset, bringing our unique combination of US/UK expertise. This property will help meet the demand for high-quality rental apartments in the dynamic Bristol market. CompassRock continues to evaluate other opportunities as the investment market begins to gain momentum after a slow period over the past couple of years.
Pinsent Masons advised CompassRock on the transaction and Savills Operational Capital Markets and CMS advised Dandara.
William Pearce, associate director of Savills Operational Capital Markets, said: “Savills is delighted to have advised Dandara on the disposal of Stafford Yard, Bristol, to CompassRock, a transaction that reinforces market confidence in the UK multifamily development sector, the continued appetite for well-located, high-quality assets and experienced delivery partners.”
