UK: Construction company JJ Rhatigan has been awarded the contract to build 209 coliving units at White City in west London.
The Yardhouse project, which will start on site immediately, will also include amenity spaces and two roof terraces. Through a partnership with Women’s Pioneer Housing, a specialist housing association, the project will also provide 60 new affordable homes for single women, as well as a new head office for WPH.
Designed by architect Allford Hall Monaghan Morris, Yardhouse will replace 36 existing WPH homes and 300 square metres of office space.
HUB and sustainable impact investor Bridges Fund Management recently secured an £88 million forward funding deal with the Singapore-based real estate developer City Developments Limited(CDL) to deliver Yardhouse.
Tom Neylon, regional director at JJ Rhatigan, said: “This is now our fourth project for Hub, repeat business stemming from successfully delivered projects is a strong strategic focus of JJ Rhatigans, our consistent delivery of projects is a credit to our JJR teams as well as our valued supply chain.”
Sherman Kwek, CDL’s group chief executive officer, said: “We are excited to mark the expansion of our UK living sector footprint with our first PRS project in central London. Despite macroeconomic and geopolitical challenges, the UK PRS has proven to be an exceptionally resilient asset class with robust operational performance. Given its prime location at the heart of a burgeoning district, Yardhouse is well-positioned to capitalise on the growth in flexible, professionally managed communal living solutions. This acquisition will boost our portfolio to a total of 4,771 operational and pipeline units in the UK, Japan, Australia and the US, and dovetails with our strategic focus to scale up our global living sector portfolio to enhance our recurring income and augment our fund management aspirations.”
