The project is moving forward after Grainger, the UK's largest listed residential landlord, agreed to acquire the build-to-rent development from a vehicle backed by clients of Palmer Capital and Cubex Land. Grainger will forward fund the project, while Cubex Land will be the developer and Willmott Dixon will be the contractor.
The site at Finzels Reach in Bristol has planning consent for 194 private rental homes across two blocks on the waterfront and is expected to complete at the beginning of 2019.
Cubex Land director Gavin Bridge said: “This is a fantastic inward investment in Bristol, by a well-respected and experienced landlord. Our contemporary styled apartments are perfectly placed to serve the rental customer and will complement the rest of our Finzels Reach apartments, hotel, offices and leisure.”