FizzyLiving has bought 45 homes at the New Festival Quarter development in Poplar, E14.
FizzyLiving, a subsidiary of Thames Valley Housing Association, bought the property from Bellway Homes. It is believed to be valued at £14.5m.
The scheme is scheduled for completion in December and will comprise one-, two-, and three-bedroom flats.
Rents will start at £1,300 a month for a one-bedroom flat, and £1,733 for a three-bedroom home.
On-site facilities will include a gym, concierge, underground parking and landscaped gardens.
The acquisition is FizzyLiving’s first since Macquarie Capital invested £40m into the model in February. FizzyLiving aims to bring 1,000 rental flas to the market over the next five years.
Managing director Harry Downes said: “By purchasing within the New Festival Quarter development, we are continuing to uphold the Fizzy values of providing rental accommodation that has been built to a high specification and which offers excellent commuter transport links. As with all Fizzy flats, there will be a 24-7 on-site management service, which will ensure tenants’ needs are met and the apartments are run efficiently. We are expecting these apartments to be snapped up very quickly by professionals who work in Canary Wharf.”
Jones Lang LaSalle acted on behalf of the vendor.
annabel.dixon@estatesgazette.com
