UK: Sable Capital has acquired a 176-unit BTR scheme in Hackney Wick for an undisclosed price.
The apartment block is being delivered by O’Shea Group and Galliard Homes. Sable used capital from its UK BTR fund to purchase the Wickside scheme, which sits on an 8.4-acre site between Hackney Wick overground station and the Hertford Union canal.
The scheme will offer one-, two- and three-bedroom apartments, in addition to a range of duplexes and townhouses, a residents-only lounge area and rooftop gardens.
Hugo Black, partner at Sable Capital, said: “While rental inflation is cooling, year-on-year rental growth remains historically high compared to the pre-pandemic years. The rolling number of new applications, permissions granted and construction starts across London in Q1 24 were all more than 60 per cent below their previous peaks according to Molior. We expect the lack of supply relative to demand will keep rental inflation at a level above the long-term average and supported by ongoing wage growth.”
“This is a highly appealing site in close proximity to Hackney Wick overground station and conservation area, sitting to the north of the Hertford Union Canal and between the 213-acre Victoria Park and the 560-acre Queen Elizabeth Olympic Park. We are confident that Wickside will provide the very best of London BTR living and are looking forward to working with O’Shea and Galliard to deliver this major regeneration landmark,” he added.
In a joint statement, Stephen Conway, CEO and executive chairman of Galliard Homes and Rory O’Connor, executive chairman of O’Shea Group, said: “We are delighted to partner with Sable Capital on the Hackney Wick BTR development. Wickside represents a unique opportunity to blend modern living with the rich industrial heritage of the area. This project will not only provide high-quality homes but also create a vibrant community hub with a variety of amenities and public spaces.”
