Developer HUB and sustainable impact investor Bridges Fund Management (Bridges) have signed an £88m forward funding deal with Singapore-based real estate developer City Developments Ltd to deliver Yardhouse, an innovative mixed tenure scheme in Wood Lane, west London.
The development will deliver 209 co-living homes alongside high-quality amenity spaces and two roof terraces, offering sweeping views across London. Through a unique partnership with Women’s Pioneer Housing (WPH), a specialist housing association, the project will also deliver 60 new high-quality affordable homes for single women, as well as a new head office for WPH.
Damien Sharkey, Managing Director at HUB, said: "This forward funding deal – HUB’s 12th – will be instrumental to our delivery of this next gen co-living scheme. We’re thrilled to partner with CDL on its first co-living development in the UK, and move forward with the first project in our growing co-living pipeline. Not only does this further strengthen our commitment to innovative and inclusive housing solutions that meet the evolving needs of communities, but it reinforces our confidence in the resilience of the real estate market and the appeal of this emerging asset class.”
The strategic partnership between HUB, Bridges, and CDL aims to address the growing demand for innovative and sustainable housing solutions, particularly in urban centres. Within easy reach of Westfield, White City Place, Television Centre and Imperial College London’s campus, and with excellent transport links.
Tracey Downie, Chief Executive of Women’s Pioneer Housing, said: “I am really pleased that this milestone has been reached, and that this project, which will almost double the number of affordable homes on this site, is moving forward. Each home will be spacious and built to very high standards, significantly improving our offer to women locked out of the London housing market. Through this partnership with HUB and Bridges Fund Management we are committed to delivering an exemplar scheme and fostering a genuine community”.
The project is the result of close collaboration with Hammersmith and Fulham Council, the local community and local business owners to bring forward a co-living and affordable housing scheme supported at all levels in the borough. It will replace 36 existing WPH homes and 300 sqm of office space.
