Offsite specialist Tide Construction has been appointed to deliver a new residential tower in west London.
The Castle, in North Acton, will comprise 462 self-contained studio units in a 32-storey building, with Tide as developer and contractor on the scheme.
Other features include a roof terrace, cinema, library, gym, co-working space and dining rooms.
Precede Capital Partners and QuadReal Property Group provided a £105.2 million three-year loan to facilitate the Build-to-Rent (BTR) modular construction joint venture between BlackRock and Outpost Management.
Modular approach
Most of the construction will be completed in a factory environment, positively impacting quality control, efficiency and cost predictability, while reducing congestion and environmental impacts on site, said Precede.
The Castle is targeting a BREEAM ‘Excellent’ rating and an Energy Performance Certificate (EPC) score of ‘A-B’.
Advising
Precede was advised by Evershed Sutherland; Dalbergia provided construction due diligence for the lenders; CBRE acted on the Valuation and Longevity Partners on ESG due diligence.
BlackRock and Outpost Management were advised by JLL and Simmons & Simmons.
The development is scheduled for completion in August 2025.
Christy Hayes, CEO of Tide and Vision, said: “This partnership with global investors Precede Capital and QuadReal, secured to close The Castle JV with Outpost and BlackRock, testifies to our compelling offer.
“This deal demonstrates the level of quality, sustainability, and sophistication that Tide and Vision’s volumetric technology can deliver, supporting the much-needed provision of housing to the UK.”
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