Aberdeen Standard acquires €56m BTR scheme in London

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.

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