15th Mar 2018 09:25
The sale - completed after the certain construction milestones are met - will see St Modwen sell 207 private rented sector units from its 1,300 home mixed-use regeneration project at St Andew's park in Uxbridge.
St Modwen noted that the sale will help accelerate delivery of future phases of construction at St Andrew's Park and release capital for investing in build-for-sale homes.
The properties sold at St Andrew's form part of its The Triangle site. The Triangle is a 249-apartment development site over four blocks of which 207 homes will be provided to the private rented sector. The remaining 42 homes have already been forward sold to Catalyst Housing Ltd in December 2016.
"This forward sale is a very significant milestone for this transformational scheme as it accelerates the supply of much-needed homes whilst enabling us to release more land earlier for homes for private sale as we deliver on the overall St. Andrew's Park vision," St Modwen South East Property Director Tim Seddon said.
"Annington will provide further diversification of homes and tenures within the St Andrew's Park community," Seddon added. "They join St Modwen Homes, which is currently providing over 140 homes over two phases of the development, as well as Persimmon, which has delivered some 350 homes at St Andrew's Park."
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