London Square deal for three new towers at Nine Elms Park

Grant Prior 3 years ago
Share

Developer London Square has struck a series of deals at the Nine Elms Park site in south west London which will see the construction of three new residential towers.

London Square has agreed to purchase the final three phases of the site in a deal worth £400m in gross development value – and struck a partnership deal with build-to-rent pioneer Moda Living on land for two buildings on the site.

The land deal sees London Square exchanging contracts on 3.04 acres for £111.23m to deliver 756 homes across three sites.

London Square will deliver 186 private for sale apartments in a 22-storey three-sided bronze panelled building by architects Allies and Morrison which is set to be the tallest building in Nine Elms Park.

The acquisition paves the way for the launch of the company’s new build-to-rent division London Square Living.

A new partnership has also been agreed with Moda Living who will develop 437 apartments across two blocks ranging from nine to 13 storeys with London Square overseeing construction.

The sale of the final parcels of land to London Square and Moda Living will be the final piece of the regeneration at the 14-acre site of the former Royal Mail delivery office.

Adam Lawrence, Chief Executive, London Square, said: “We are delighted to be working with Moda Living, with its excellent reputation for delivering high quality homes and lifestyles.

“Nine Elms Park is an outstanding opportunity for us, delivering an exceptional landmark 22-storey building with homes for private sale in a prime location and enabling us to showcase the breadth of our offering with the launch of our build-to-rent division, London Square Living.

“We are building a much-needed pipeline of homes for rent, as well as affordable homes, alongside our longstanding track record of delivering exceptional homes for sale in the capital.”

Johnny Caddick, Chief Executive, Moda Living said: “We are excited to bring our brand to London, and this is the perfect place for our flagship scheme.

“With our core brand proposition focussed on unparalleled customer service, resident wellbeing, technology, community and ESG we aim to attract a broad demographic of members from across the capital and beyond.

“Our structure is now set up to deliver and operate thousands of homes for rent per annum across the UK and naturally London forms a a key piece of the jigsaw for our portfolio weightings.”

Latest news

Comment: Gateway is acting like a barricade

Contractors left banging their heads on an (unbuilt) brick wall
2 days ago

Final phase of £1.5bn Elephant and Castle revamp hits planning

Get Living submits revised plan for 500 homes and 450-bed student block
3 days ago

Ealing backs final phase of £1.3bn estate rebuild

Friary Park estate rebuild in Acton reaches end stage
2 days ago

Green light for scaled-down Nottingham student tower

Glasshouse Street scheme will deliver 247 student rooms
2 days ago

Aston Villa to revamp North Stand

Club to reuse existing structure rather than complete rebuild
3 days ago

Mace signs ex-ISG director to lead Euro health and tech push

Gary Sweeney to head up healthcare and life sciences consultancy arm
2 days ago

Sir Robert McAlpine claws way back into profit

Firm says return to profit and strong cash balance validates new strategy
3 days ago

Severfield to cut staff by 6% amid pricing pressure

Steelwork contractor warns of extended tighter pricing due to project delays
3 days ago

JRL completes sale of 50% stake to Malaysian giant IJM

Deal boosts balance sheet and kicks starts growth plan
3 days ago

Green light for £100m Liverpool Baltic station build

Enabling highway works to start in the autumn
4 days ago

First live tests for flying construction robots

Drones can lay construction materials at height on site
3 days ago

Three firms land £170m Gentoo Sunderland housing deal

PHS Solutions, Esh and RE:GEN to deliver 10-year home upgrade plan
4 days ago

Gateway gridlock hits build-to-rent delivery as starts nosedive

Build to rent starts plunge 18% in the capital
4 days ago

Call to shift Gateway 2 checks to end building bottleneck

"The current system isn't working but we all want to see safe buildings"
4 days ago

GBN launches £600m bid race for SMR engineer roles

Owner engineers to provide technical and assurance services
4 days ago

Wates hires ex-Homes England chief to head public sector push

Robert Stone to spearhead its public sector and national frameworks strategy
4 days ago

Acheson Construction collapse costs suppliers £8.5m

One frustrated creditor seized a telehandler after contractor went into administration
5 days ago

Dominus wins go-ahead for 173-bed Glasgow scheme

Old Wynd Street job expected to cost around £25m to build
5 days ago

Safety Regulator misses deadline to clear Gateway 2 backlog

Investors pulling out of funding high rise buildings
5 days ago

CITB still sitting on £95m cash pile

Staff numbers jump from 666 to 763 as training body wage bill soars
5 days ago

£500m road surfacing framework market call

NEPO goes out to consultation on north east regional highways deal
5 days ago

Two share £220m Scottish rail repairs and minor works deal

AmcoGiffen and CPMS win civils and building repair deals
5 days ago

Builder wanted for £60m London leisure and flats job

Tower Hamlets aims to replace St George’s Leisure Centre in Shadwell
5 days ago

Contractor confirmed for business park expansion

Roe Developments to start on next phase of Castle Donington scheme
5 days ago

Driver escapes injury as scaffold collapses onto van

Major three-lift scaffold fall blocks north London high street
1 week ago

Gilbert Ash to be sold to staff

£267m turnover contractor to transition to an Employee Ownership Trust
2 weeks ago

M Group seals biggest-ever deal with Telent takeover

Digital infrastructure specialist deal lifts turnover to £3bn
1 week ago

Aggregates firm Ashville went down owing more than £3m

Debts revealed in Companies House update
1 week ago

Cardo saves 100 jobs at Breyer roofing arm

Private equity-backed Welsh maintenance group continues to expand
2 weeks ago

Excavator knocked off lorry going under bridge

Traffic Commissioner inquiry after accident in south London
1 week ago

Contractor services