12 Aug 2021
In another land deal in the burgeoning alternative bed sector, Levy Real Estate have sold a 0.3 acre development plot at the top of Stratford High Street.
The site is located in LB Newham, within the LLDC, and opposite Stratford High Street DLR, and comprises four office buildings and a former Hertz car hire facility bordered by the Jubilee line and the Channelsea River.
The site benefitted from a 2016 Resolution to Grant Planning for a Sui Generis Coliving scheme of 250 units, and a more recent Planning Permission for a 287 key hotel, of up to 22 storeys and totalling 123,000 sq ft.
Acting for The Collective Stratford Limited, the site was marketed to a targeted list of buyers in the Coliving and PBSA sectors, and the transaction closed within 3 months of launch.
The SPV was acquired unconditionally by a private developer.