The developers behind the Ruskin Square mixed use development next to East Croydon station are set to use the scheme as their first venture in the Buy to Rent market.
Stanhope, who are developing the nine-acre site in a joint venture with Schroders, earmarked its next residential developments, comprising 330 homes, as suitable for the scheme in a Property Week profile of the company.
“We’re looking at how we as a business might participate in what is probably the biggest growth sector in the property industry,” said property director Jonathan Trout.
“A lot of institutional capital in particular is lining up to invest in it and some of our mixed-use sites definitely have potential for BTR in the right location and at the right price points.
“We’re looking at Ruskin Square and we’re talking to the council about that.”
Ruskin Square is starting to take shape in the past couple of years with the completion of a first commercial building, entirely let to HMRC, the first new homes and the opening of Boxpark Croydon, a foodie version of the Shoreditch original.
Stanhope have been involved in Croydon for 15 years and chief executive David Camp said the planning process in the early days was “tortuous” and then when permission was secured it coincided with the 2008 crash.
“It’s only now that it’s turned the corner and is going to be a big success,” he said.
The full feature is in the June 2 edition of Property Week.