Construction work will now begin in the first quarter of 2014 now that it has completed the acquisition of the site from Development Securities and Cathedral Group, master developers of wider Old Vinyl Factory project.
Willmott Dixon set up a subsidiary earlier this year called be:here, which it describes as “a landlord even your mum would like” that is “socially, environmentally and rentally sound” targeting young urban professionals.
The Gatefold Building will have 132 be:here homes for renters alongside office space, a new café and community amenities.
It will be the second be:here development, after a 233-home development at East India docks as part of the Aberfeldy Village regeneration, to be ready in 2015.
Matthew Pullen, be:here’s managing director, said, “I’m delighted we’ve reached agreement with Development Securities PLC and Cathedral Group PLC for The Gatefold Building and to support the start of the wider Old Vinyl Factory redevelopment; it’s a crucial next step in a process where be:here will create homes for private rent on an ambitious scale, working with institutional investors that recognise the sector’s enormous potential to provide long-term revenue to their portfolios and the benefits of our platform as a means of achieving that.”