Berkeley Homes and Pruidential’s St Edward joint venture is to sell the 68 affordable housing units that will provide housing for former Grenfell Tower residents at cost.
The duo will not profit from the circa £10m sale to the City of London Corporation, which has yet to formally complete, while respecting fiduciary duties to shareholders and investors.
The flats at 213-215 Warwick Road were due for completion in a few months’ time and would most likely have been sold to a housing association and socially rented. St Edward is now more than doubling the number of workers on site to around 500 and bringing forward completion to the end of July. The two blocks form part of the affordable housing provision for St Edward’s Kensington Row project.
To send feedback, e-mail david.hatcher@egi.co.uk or tweet @hatcherdavid or @estatesgazette
