Get Living has agreed a £155m forward funding deal for a build-to-rent scheme from developer HUB in Maidenhead, Berkshire.
The deal will see Get Living acquire 429 homes and 23,000 sq ft of retail in the first phase of The Landing, in its first move in London’s commuter belt.
Last year, Get Living’s investors secured £410m to expand the platform. This is the first acquisition after the fundraise, following growth in London and regional cities Manchester, Leeds and Glasgow.
HUB and Smedvig received consent for plans to build a £250m mixed-use scheme at the Landing site, next to Maidenhead station, where Elizabeth Line trains will arrive in 2022. The wider site will also deliver a 104,000 sq ft office and a further 15,000 sq ft of retail and leisure.
The deal with Get Living is HUB’s ninth forward funding deal to date.
Rick de Blaby, chief executive at Get Living, said: “This is a momentous deal for Get Living, being our seventh neighbourhood of large scale, but this time in a regional town rather than London or one of the UK’s large cities.”
Damien Sharkey, managing director at HUB, said: “The scheme we will now deliver is particularly important for Maidenhead, being on a pivotal site for the town and based on designs developed through extremely close consultation with the local community, as well as strong collaboration and support from the Royal Borough of Windsor & Maidenhead.”
Savills advised Get Living. Knight Frank advised HUB.
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