Invesco Real Estate and Meyer Homes have partnered on a 255 build-to-rent (BTR) project in West London.
The forward-funded development, which closed at the end of December 2017, was acquired for a total gross investment of 拢107m (鈧�86m) for Invesco鈥檚 dedicated UK residential strategy and is expected to be build complete in 2020.
James Moody, a managing director at Meyer Homes said: 鈥淢eyer Homes was set up to deliver a portfolio acquisition in 2015 of 14 projects with the capacity to deliver 3,500 new homes in London.鈥�
The business has a diversified strategy and has two other major projects under construction and 2,500 homes in the Planning Pipeline.
鈥淲e are delighted to be working with Invesco who recognised the added value that Meyer Homes brought to the Hounslow project having gained planning consent for 293 homes and secured a contract with Bennetts to construct the buildings.鈥�
John German, a senior director at Invesco鈥檚 residential investments, said: 鈥淭he Hounslow Place project was the 7th asset which we acquired for the fund in 2017, and the fund鈥檚 2nd asset in London.
鈥淭oday we have a total eight assets in the fund representing 1,278 units for a total investment of 拢330m, with the London assets at 435 units.鈥�
Hounslow Place, will consist of seven buildings of various sizes, providing a mixture of studio apartments, 1-bed, 2-bed and 3-bed apartments and 14 mews houses, as well as car parking spaces, retail units and associated residential amenity space all designed to provide a sense of community.
