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CBRE UK Affordable Housing Fund To Finance A London Development
The CBRE UK Affordable Housing Fund, which raised £250m (€272m) from UK institutional investors in 2019, is forward funding a London development by HUB and Bridges Fund Management. Abbey Place, a development of 245 homes in Ab
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Realty Plus
Published - Monday, 21 Dec, 2020
The CBRE UK Affordable Housing Fund, which raised £250m (€272m) from UK institutional investors in 2019, is forward funding a London development by HUB and Bridges Fund Management.
Abbey Place, a development of 245 homes in Abbey Wood, South East London will form a mixed-used development on a site adjacent to the new Abbey Wood Crossrail station.
The scheme will provide 72% affordable housing, as well as three commercial units, a new public square and improvements to the public realm.
Work is expected to begin this December and the project is expected to complete in the third quarter of 2023.HUB acquired the site in partnership with Bridges Fund Management. Abbey Place was granted full planning permission in September 2018.
HUB has a track record of working closely with local communities to deliver architecturally-superb schemes of which everyone can be proud. We hope that Abbey Place will be at the heart of a thriving community.
DJ Dhananjai, fund manager of CBRE Affordable Housing Fund at CBRE Global Investors, said, ”Abbey Place funding shows our commitment to delivering additional affordable housing, and private-rented homes at a low rental level in a high quality development.This asset will generate a positive social impact by bringing forward affordable homes in one of the largest regeneration areas in Greater London.”
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