Meadow Partners has received approval for a build-to-rent scheme in Tolworth, south-west London.
Kingston Council has approved the 261-flat Tolworth Tower development two years after the project fell into receivership.
LPA receivers were appointed to the £250m scheme, owned by CNM Estates chairman Wahid Samady, ahead of the expiry of a £66.3m debt in 2017.
Knight Frank was appointed to sell the freehold for the site the following month.
The development is now being brought forward by Meadow Residential’s Healey Development Solutions (Tolworth).
Tolworth Tower comprises 22 storeys with flexible workspace, a residents lounge, gym and cinema. It has been designed by 3DReid and will be the first build-to-rent scheme in the borough.
The scheme was called-in by the Greater London Authority in July, due to the “wholly unacceptable” level of affordable housing, at just 11%. The GLA has been “scrutinising” the viability assessment and will make a final decision on the scheme in the coming weeks.
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