Amro Partners, in partnership with Flemyn, has secured planning approval for their planned conversion of a hotel in Greater London into a Β£220m (β¬253m) build-to-rent (BTR) development.
The apartment block, which will be built on the site of the redundant Croydon Park Hotel, will be βone of the most sustainable new residential buildings in London on completion in 2027β, the developers said.
Named Botanical House, the building will provide 447 one, two and three-bedroom rental homes.
Amro and Flemyn bought the site in January 2022.
Amro and Flemyn said that, in contrast to other BTR projects in Croydon, more than a quarter of the building will provide three-bedroom apartments, catering for families and providing βan affordable option for sharersβ.
One fifth of the apartments will be designated affordable, available to tenants at below market value via discounted market rent and London living rent
Facilities will include a roof terrace, gym/wellness centre, cinema/media room, communal lounge areas, outside play area and co-working spaces.
In line with Amroβs net-zero carbon 2025 pledge, the project will be the first residential building in Croydon to achieve the βhighest possible sustainability standardsβ including BREEAM Outstanding rating, Fitwel3 certification and WiredScore Platinum.
Amro said it would take a retrofit-first approach, with the basement and ground floor slab of the original hotel building retained to save embodied carbon and minimise demolition and subsequent waste on site.
The development will seek a 51% biodiversity net gain through the creation of a communal landscaped garden, 50% soft landscaping and 45 newly planted trees and green street frontages, retaining existing street trees, Amro said.
In partnership with local charities and community groups, including Asian Resource Centre Croydon, Croydon Commitment and Croydon Voluntary Action, a new dedicated 206sqm multifunctional community room on Altyre Road will provide space for social events, exercise classes and mentoring programmes.
Construction will begin in 2024, with the development scheduled to complete and open in 2027, after which it will be managed on an ongoing basis by Amroβs operational platform, Amro Living, the firm added.
Raj Kotecha, chairman and CEO of Amro Partners, said: βWith planning permission secured, we look forward to starting work delivering this exemplar BTR project in the beating heart of Croydon.
βWe are already working closely with the local community to deliver an exceptional new building which not only sets a new bar in terms of sustainability but makes a significant contribution to meeting high demand for quality rental homes in the borough.β
To read the latest ΒιΆΉΣ³» Real Assets magazine click here.
