Greystar adds Hayes scheme to growing portfolio
Greystar has bought a 407-home site at Crown Trading Estate in Hayes, UB3.
The build-to-rent giant paid £26.5m to Engie’s Equans for the west London consented site.
Equans assembled the site from 12 landowners and secured planning consent from Hillingdon Council in August last year.
Greystar has bought a 407-home site at Crown Trading Estate in Hayes, UB3.
The build-to-rent giant paid £26.5m to Engie’s Equans for the west London consented site.
Equans assembled the site from 12 landowners and secured planning consent from Hillingdon Council in August last year.
Greystar will begin construction in September 2022, following vacant possession. The developer anticipates completion in Q3 2025.
The site brings Greystar’s UK portfolio to more than 14,000 beds in BTR and student housing.
It sits next to the Crossrail Station, is close to Heathrow airport and more than 30 companies at Stockley Park, including Apple, GSK and Mitsubishi.
Jamie Spencer, director for UK investment at Greystar, said: “The site in Hayes is exactly the type of project we look for, and we have a lot of confidence in the west London market following our experience at nearby Greenford Quay.
“The demographics are attractive, with Hayes forecast to have one of the fastest-growing populations in London through to 2026 and a wealth of employment in the area. The existing rental housing stock is limited and largely in need of modernisation, so we anticipate strong demand for our product and service.”
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews
Image © Greystar
