Citra Living has acquired a 124-home portion of Land Charter Group’s 330-home regeneration project in Warley, Essex, for £35.7m.
The apartment portfolio has been purchased with an anticipated gross ERV yield of 5.5%.
The development is on the site of Ford Motor Company’s former European headquarters, which was originally built in 1964, and modelled on Ford’s global head office in Detroit. It has been repositioned into a residential scheme by architects TP Bennett.
Allsop acted on behalf of the vendor Land Charter Group.
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @AkankshaEG or @EGPropertyNews
