Listed residential landlord Grainger has exchanged conditional contracts to forward fund and acquire Merrick Place, a 401-home build-to-rent development scheme in Southall for £141m.
In addition to the 401 flats for the private rental sector, Henry Construction will build 18,116 sq ft of office space, 3,541 sq ft of commercial floorspace and 5,253 sq ft of internal residents' amenity. More than 17,000 sq ft of external space is also involved.
Merrick Place is next to Southall Station, which is on the new Elizabeth Line (Crossrail) and forms part of a wider £200m development being delivered by Network Homes and Henry Construction.
Construction of Merrick Place is expected to start in December 2021, with practical completion targeted in mid-2025.