In August a planning application for a 546 home build to rent tower were submitted to Croydon Council. The plan is to create the 44 storey tower on George Street in the centre of the town close to numerous amenities. The project would be carried out by Tide Construction with forward funding courtesy of US investor Greystar. The total value of the property when finished could be upwards of £150 million.
The project is interesting for two major reasons. Firstly it will add a large number of build to rent properties to the area. These could go a very long way to meeting housing demand in an area that is growing in popularity.
The second thing that is special about the project is that Tide is planning to use modular construction. They have developed their own design, the Vision Modular System. It has already been used on a number of projects, including Apex House in Wembley. The 29 storey building took the title of the tallest modular building in Europe and second tallest in the world when it was finished earlier this year.
The Croydon development will take the title if permission is granted because it is a full 15 storeys taller. It showcases that modular designs continue to grow in popularity due to the array of benefits they offer, including shorter construction timeframes and lower labour costs. For example construction on Apex House only lasted 12 months.
Incredibly Tide’s modular design includes the installation of windows, electrical wiring, plumbing, and furniture. The finished units are delivered to site and lifted into place. This is a highly efficient method of construction.
At Finefair we specialise in guaranteed rent Croydon investors can arrange to secure their income. We work hard to provide full support for the full duration of schemes. Our reputation has grown substantially over the years, seeing us build long term relationships with numerous clients.
If you would like to discuss guaranteed rent with us please get in touch. There are some important details to look at before agreeing a scheme but we can explain all of them for you.