Meadow Partners has made its eighth multifamily investment in London with the acquisition of a 128-apartment residential property in Croydon.
Centrally located in Croydon Old Town, an established and highly connected urban area within Greater London, the property offers excellent links to the city centre as well as access to a wide array of local amenities.
The property provides for both private and affordable tenure, with a total of 68 private and 60 affordable units all located within one 23-storey block.
The apartments have been uniquely designed to maximise space and provide sustainable and high-quality finishes to residents. The affordable apartments will be leased and managed by Meadow’s for-profit Registered Provider, MP Living Ltd, providing a holistic offering across tenures.
“This acquisition is an exciting step in the growth of our multifamily investment strategy, as we continue to actively pursue opportunities in the sector on both a direct and joint venture basis. Over the last four years, we have seen significant rental growth in our existing portfolio supported by consistently high occupational rates. The ongoing chronic undersupply of suitable residential accommodations in London will only serve to bolster this demand and this transaction reflects our continuing confidence in London’s rental market.” – Andrew McDaniel, Co-Founder and Partner of Meadow Partners.
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