Aberdeen Standard Investments has acquired the former Abbey Sport Centre site in Barking town centre, near London, forward-funding Lindhill’s redevelopment of the site into a build-to-rent scheme comprising 170 residential apartments.
On completion, the scheme will comprise one-, two- and three-bedroom residential apartments, including 60 affordable units. The residents will benefit from amenity spaces, including a high-quality residents’ lounge and co-working area. The development will also deliver a new cinema, as well as an office for Care City – a healthcare innovation and research consultancy.
The development is expected to welcome residents by Q3 2022.
Robert McDonnell, residential fund manager, Aberdeen Standard Investments, said: ‘This is an exciting build-to-rent development and we look forward to delivering an exemplary scheme, which will provide both private and affordable rental accommodation that will be managed by a single entity.’
Knight Frank advised Aberdeen Standard Investments. Avison Young represented Lindhill on this transaction.