Tide starts student block in Acton
Contractor Tide Construction has started work on a 306-bed development in East Acton for student accommodation firm Chapter.
Chapter’s parent company, US real estate firm Greystar, acquired the site from the London borough of Hammersmith & Fulham site. It had previously been home to the Savoy Cinema but has been vacant for almost 20 years.
The development is near Imperial College London’s new White City campus. Building work is expected to take 18 months and the development is scheduled to open by September 2018.
This will be the second student scheme designed and developed by Greystar in the UK. The first, Chapter Lewisham, opened in August 2016.
Troy Tomasik, managing director investments at Greystar, said: “This is a strategic acquisition to extend the Chapter brand to an underserved market in west London. We have identified a significant demand in this corner of the Capital for high quality student accommodation at a range of price points. Chapter is uniquely positioned to deliver on both fronts.
“Greystar now owns and manages a diverse portfolio of rental accommodation in London which spans student accommodation in nine locations to multifamily sites in Canary Wharf and Greenford. Each new acquisition helps consolidate our position while delivering important operational efficiencies.
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This article was published on 12 Apr 2017 (last updated on 12 Apr 2017).