UK: Greystar Real Estate Partners LLC has forward funded a 391-unit BTR development in Staines-upon-Thames.
The Renshaw’s Yard development will be delivered by Dandara Living. Designed by Hodder + Partners and Aros, it will consist of 345 private units, six private three-bedroom townhouses and 40 Discounted Market Rent (DMR) units, as well as a basement with 215 car parking spaces and 396 cycle storage spaces.
The amenity space will feature a lounge, private dining room, coworking space, gym and private courtyard gardens.
The Renshaw’s Yard site benefits from planning permission for a BTR multi-family planning consent, obtained in December 2022. The site has already been cleared for construction, which Dandara Living will commence in Q4 2023, with an expected completion date of Q3 2026.
Harry Downes, managing director, UK investment, Greystar, said: “The acquisition of Renshaw’s Yard will provide much-needed rental housing in Surrey, a region constrained by limited supply but fast-growing demand for a high-quality rental product. Part of the M3 local enterprise corridor, and adjacent to the M4 tech corridor housing several global creative and technology companies, Staines provides excellent proximity to employment hubs and is increasingly attracting new talent to the region. This has led to significant residential-led regeneration in the areas, with approximately 1,750 apartments currently in the pipeline to house existing and new residents drawn to Staines’ well-connected location paired with enviable riverside living.”
