Amro Partners has acquired a 200,00 sq ft office building in Sutton for its next Build to Rent project which will deliver 450 new homes.
The £170m GDV project will deliver Build to Rent homes with shared amenities including co-working spaces, gym and wellness centre, residents’ lounge, cinema room and roof terraces, it is located directly opposite Sutton train station.
Raj Kotecha, Co-Founder and Managing Director of Amro Partners, said: “Demand for energy-efficient, professionally managed rental homes is strong and growing, and this project will help meet the needs of young professionals and families locally while playing a key role in the wider regeneration of Sutton town centre on an important ‘Station Gateway’ site.
“This acquisition represents a major milestone in the evolution of Amro since we launched a decade ago, taking us over £1 billion in total transaction volume, and we remain focused on our target of delivering 5,000 highly sustainable multifamily homes across the UK over the next five years.”
The site, including the existing 1970s office building, has been purchased subject to planning, with development work scheduled to commence on site in early 2024 and the completed property opening in 2026.
The proposal is for a retention of the existing concrete structural frame, comprised of two interconnected towers, and a vertical extension to create a mixed-use scheme with commercial space on the ground floor.