UK: HUB and Bridges Fund Management, advised by CBRE, have acquired a 4.5-acre brownfield site in central Bath to develop a BTR scheme.
The plans are based on a housing-led scheme made up of BTR, affordable homes, commercial provision and improved public spaces. The development will use on-site renewable energy and whole life-cycle carbon assessments during its construction.
James Blundell, director in CBRE’s Midlands & South Development team, said: “This site presents an exceptional opportunity to deliver high quality mixed-use regeneration, including well-managed rental accommodation in Bath, where, like many cities around the UK, there remains a significant shortage of housing available to rent. With its close proximity to Green Park station and quality amenity provision within the city centre we anticipate very strong demand for quality accommodation in this location.”
The site will form part of HUB’s growing residential portfolio across the UK, taking it to 4,000 units.
Tom Starkey, senior acquisitions manager at HUB added: “We are delighted to have worked with CBRE to identify, introduce and acquire this exciting project. Their understanding of our requirements and support in completing the transaction has been invaluable and we look forward to delivering the much needed regeneration of this site.”
