Sell My House Quickly in Ealing
Sell My House Quickly found another interesting article about properties in Ealing. Moorfield extends UK residential footprint with first co-living investment in Ealing, West London.
UKREiiF attendee Moorfield Group, the UK-focused real estate fund manager, on behalf of its Moorfield Real Estate Fund IV, has agreed to forward fund an 81 bed best-in-class co-living scheme near Ealing Broadway, West London, for £21 million. It represents Moorfield’s entry into the fast-growing London co-living sector. In which, it is expected to be a beneficiary of demand from young professionals looking for affordable, high quality and flexible accommodation.
The transaction is the first investment by a joint venture between Moorfield and Funding House. (the “Zennor” partnership). They are offering experienced developers in the UK ‘Living’ sector the opportunity to enter into forward funding agreements. Together with an experienced and well-respected investment partner. A co-investment mechanism permits developers to generate additional returns through the increased value of assets anticipated following operational stabilisation.
Having acquired the site in November 2019, subject to planning, and subsequently secured consent for 81 units, Urbane London, the specialist, London-focused residential developer, will act as the development manager.
Squire & Partners Designed Scheme
The Squire & Partners designed scheme is expected to be ready for its first residents in late 2023. It will offer 81 high quality en-suite studios across a range of unit types. Alongside 1,800 sq ft of amenity space including a south facing roof terrace, co-working space, kitchens and storage for 83 bikes. The BREEAM Very Good scheme has strong environmental and social credentials. It includes an air source heat pump, photovoltaic panels, no gas services, a biophilic design, and a private rooftop for residents to aid wellbeing.
The property is located less than a one-minute walk from Ealing Broadway station. It is a major single-level interchange station which will connect residents to Heathrow in 15 minutes, Bond Street in 11 minutes, and Canary Wharf in 25 minutes, via the soon to open Elizabeth Line. Ealing was ranked the third best place to live in London last year. And it benefits from a diverse food and beverage, leisure, hospitality, outdoor amenity and lifestyle offering. In which, it is expected to further underpin strong demand for an affordable, well-designed rental proposition.
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