L&Q has signed a £62m deal to forward-fund two residential blocks at the Taberner House scheme.
The blocks will comprise 172 apartments and are part of HUB and Bridges Fund Management’s wider Taberner House development on the site of the former Croydon Council headquarters.
L&Q will provide a mixture of shared ownership and London Living Rent apartments, increasing the overall level of affordable housing across the development from 40% to 50%.
“We combine our social purpose with commercial drive to create homes and neighbourhoods everyone can be proud of,” said Vicky Savage, regional managing director at L&Q. “L&Q’s vision is that everyone has a quality home they can afford.”
When it is completed in 2021, Taberner House will comprise 513 homes across four blocks, new retail space and new public realm within the adjacent public park, Queen’s Gardens.
Savills advised HUB on the forward-funding deal with L&Q.