£55m funding agreed for Bouygues PRS block

Bouygues

November 29, 2019 – Bouygues and its development arm Linkcity have secured funding for the construction of a build-to-rent block of flats in Canning Town, London.

Grainger plc, a listed residential landlord, has agreed to forward fund the development in the Hallsville Quarter development at Canning Town for £55.5m.

The scheme has 132 flats for rent and 11,000 sqft of commercial space. It is being developed by Linkcity, with Bouygues UK as the building contractor.

This is the fifth private rented sector (PRS) scheme that Linkcity and Bouygues UK will build for Grainger, and Grainger’s third in Canning Town.

Construction is scheduled to start in late 2021, with completion anticipated in 2024.

Grainger chief executive Helen Gordon said: “The Canning Town area is undergoing significant regeneration, and we know from our experience with Argo Apartments that this is a very popular location to live, with such great access to the wider city. Upon completion of this project, Grainger’s east London cluster will comprise 748 purpose-built homes, providing scale and operational efficiencies.”

Source:-https://www.theconstructionindex.co.uk/news/view/55m-funding-agreed-for-bouygues-prs-block

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