Fizzy Living has bought 111 flats in a Taylor Wimpey housing development in north-east London.
The homes form part of the housebuilder’s 500-home Eclipse scheme on Blackhorse Lane in Walthamstow, E17, and have a potential GDV of around £45m.
Fizzy Living will forward fund the development of the units, which will be in three stand-alone blocks.
This the first time Taylor Wimpey has forward sold units to the private rented sector from one of its developments.
Harry Downes, managing director of Fizzy Living, said: “The opportunity delivers all Fizzy’s purchase parameters and its location is perfect for fast access to the City and West End. Fizzy looks forward to continuing its relationship with Taylor Wimpey on similar opportunities in 2017.”
There has been a growing recognition among housebuilders that forward sales to the rental market can help de-risk schemes and accelerate delivery and placemaking.
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