Deal to start world’s tallest modular towers in Croydon

Aaron Morby 4 years ago
Share

Investors have agreed a funding deal to start construction of a twin-tower scheme of build-to-rent flats that will become the world’s tallest offsite project.

Tide Construction will deliver the project using its off-site manufacturing system, Vision Modular Systems
Tide Construction will deliver the project using its off-site manufacturing system, Vision Modular Systems

Greystar and Henderson Park have exchanged contracts with Tide Construction to acquire the 550-apartment residential development in Croydon, London.

On completion, the 101 George Street development will comprise two of the world’s tallest towers built using modular construction, at 44-storeys and 38-storeys.

The site has full planning permission and the transaction is expected to close in the first quarter of 2018.

Enabling works for the twin tower scheme are already underway at the Essex House site in East Croydon.

The towers scheme, drawn up by HT Design, will be worth over £150m and will be a trailblazer for modular construction methods.

Presently, the tallest prefabricated building in the world is a 32-storey block in New York.

Tide is both a development and contracting company, and has delivered several projects in recent years using its off-site manufacturing system, Vision Modular Systems.

101 George Street is the fourth project Greystar and Tide Construction have delivered and, once complete, will bring the total number of units the partnership has delivered in London to 1,700 units.

Christy Hayes, CEO of Tide Construction, said: “The towers of 101 George Street will stand tall as testimony to the potential of modular construction within the UK and beyond.

“Modular construction is highly suited to rental developments as investors and operators can welcome residents into their homes sooner and open the revenue streams earlier.”

The modules will be shipped from a factory in Bedford with the electricity prewired and plumbing, furniture and windows already installed.

The total build time for the project will take just 24 months, from construction starting to residents moving in to their new homes.

Troy Tomasik, Greystar Managing Director, Investments, said: “This is an ambitious development and an exciting milestone for Greystar which signals our commitment to finding innovative solutions to London’s housing challenge.”

 

Latest news

Kier more than halves debts to below £200m

Kier chief reports steady progress in first six months of trading
18 hours ago

Barhale boosts funds as it looks to rebuild turnover

Contractor confident as water companies ramp-up spending plans
18 hours ago

HS2 labour agency looks to float on AIM

£23m turnover labour supply business looks to raise funds for expansion
18 hours ago

Kane scores £29m M&E deal with Willmott Dixon

Off site works to play crucial role in major London estate contract
18 hours ago

Graham secures third Audley retirement village

Work starts on Audley Villages site at Scarcroft, West Yorkshire.
17 hours ago

Keltbray wins first deal for former nmcn infrastructure arm

Hull waste processing contract for rescued division
2 days ago

50 firms win £750m decarbonisation framework

Fusion21 framework to target 'whole building' works on homes and schools
2 days ago

Balfour Beatty UK construction MD to step down

Tom Edgcumbe to depart after just over a year as MD construction services in England and Wales
2 days ago

Crest Nicholson trebles cladding retrofit provisions to £43m

House builder revises building safety retrofit costs in face of new Government guidance
2 days ago

BAM bags £110m refurb of iconic Covent Garden tower

Landmark Seifert-designed 15-storey Space House to get two extra floors
2 days ago

Winvic to start UK’s largest speculative shed

Ellesmere Port warehouse understood to be worth around £80m
2 days ago

Kier signs deal for £169m Luton hospital revamp

Main construction work to start this month and last until 2024
2 days ago

Willmott Dixon nabs £30m Kirklees police HQ

Work to start within next few weeks on regional police HQ
2 days ago

Kier reported to be in talks to buy Tilbury Douglas

Talks reported to be at an advanced stage between both boards
3 days ago

Finance sealed for next-generation London office job

Goldman Sachs takes stake in London Bridge office project
3 days ago

John F Hunt starts giant clean-up on £110m Walsall site

Land remediation work at contaminated site will take two years
3 days ago

Build to rent boom lifts Watkin Jones profit to £52m

Surging build to rent market lifts development pipeline to £1.8 billion
3 days ago

HS2 awards £310m station lifts and escalators deal

TK Elevator signs 160 lifts and 130 escalators deal for four stations
4 days ago

Robot cutter set to revolutionise paving jobs for Eurovia

Automated system will spell end for noisy slab cutting on busy sites
4 days ago

First mass built carbon negative homes get underway

St Modwen first volume developer to build affordable carbon-negative homes
4 days ago

GMI Construction names new CEO

Lee Powell takes helm as CEO at GMI Construction in growth push
4 days ago

514-home London scheme clears final hurdle

Inland Homes declares victory after three-year planning battle over Hillingdon Master Brewer site
4 days ago

Henry Construction wins £30m Clarion housing scheme

Ravensbury estate regeneration in Mitcham is Henry's first project for Clarion
4 days ago

Lovell lands £700m homes deal with Suffolk council

Development joint venture will see at least 2,800 homes built across the county
4 days ago

Ballymore pulls 51-storey tower plan amid fire safety concern

London Fire Brigade raises concern about single staircase and fire strategy
7 days ago

New work surges as materials shortages ease

Mild weather and easing of supply chain bottlenecks lifts new work 5.7%
7 days ago

PDR Construction goes into administration

All staff made redundant as suppliers owed millions
1 week ago

Brick-laying robot gets approval from NHBC

Robot can now be used in construction of new homes covered by NHBC warranty
7 days ago

Temporary visa scheme needed for London sites

Mayor of London demands action over site skills shortages
1 week ago

Construction worker dies after fall from mobile tower

Court hears how tower wasn't configured correctly
1 week ago

Contractor services