Greystar Europe has acquired a 26.5-acre site in Greenford, West London, UB11.
Bought in partnership with an institutional partner, the former home to the GlaxoSmithKline and J Lyons & Co will be developed into a mixed-use scheme with a significant focus on rental housing.
The site will also include for-sale residential units, commercial space, retail space, amenity facilities, and community uses. When completed it will be the largest purpose-built rental development in the UK.
Greystar is the largest multifamily operator in the US and is a leading operator of student housing in the UK. It manages more than 410,000 residences worldwide.
The development is part of its plans to introduce its multifamily model to the UK market.
Wes Fuller, executive managing director of Greystar, said: “We have aspirations to build a large portfolio of purpose-designed and developed rental housing in London.
“The undersupply of housing in London represents an attractive investment opportunity for us and our partners. As a vertically integrated company, we intend to develop and operate the project utilising our team in London.”
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