Blackstone and Catalyst Capital are to sell their development site at Stratford Island, E20, for £150m.
The joint venture has instructed Savills to market the site as a PRS opportunity, and is in the process of preparing the asset for sale.
From February: Blackstone and Catalyst get go ahead for Stratford redevelopment
The partners are looking for long-term capital to fund the residential element of the development.
In 2011 the private equity firms formed a joint venture, investing in the 320,000 sq ft east London shopping centre, the Stratford Centre. They paid around £90m for the asset and have since fully let the scheme and improved the tenant line-up.
Catalyst already owns the adjacent 44 Broadway and Morgan House development sites.
In February this year Newham Council granted planning permission for a regeneration scheme on the site.
Plans include two residential towers, one of 42 storeys and the other of 25, which would deliver 600 homes, 24,800 sq ft of retail and leisure space and 12,500 sq ft of office space. A full refurbishment of the Stratford Centre is also planned.
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