Long Harbour is under offer to forward fund Urbis Living’s 188-home private rental development St Catherine’s Place in Bedminster, Bristol, for £30m.
Plans for the development include a 16-storey tower of 143 homes plus 45 flats in a low-rise block. The flats will be built on a site which is currently occupied by a vacant DSS office block.
A neighbouring shopping centre will undergo a £750,000 refurbishment as part of the consented plans.
The scheme is part of a wider £100m redevelopment of the area, known as Bedminster Green.
Earlier this year Urbis Living signed an agreement with the local authority to develop four council-owned sites and produce a masterplan for the area which could deliver as many as 800 homes.
Work on St Catherine’s Place, which will be aimed at young professionals, is expected to start early next year.
The deal is Long Harbour’s second foray into the private rented sector following its agreement to fund Sterling Property Ventures’ Great Charles Square scheme in Birmingham.
