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Amro Partners has acquired the Croydon Park Hotel in South London for £24.9m, in a joint venture partnership with Flemyn LLP.
The Croydon Park Hotel site will be transformed into a new £200m GDV Build to Rent scheme, and the project will deliver approximately 600 units with a roof terrace, lounge areas, a gym/wellness centre, and cinema room.
Construction is anticipated to begin in spring 2023 with a completion date in 2025, after which the project will be managed by operational platform, Amro Living.
The hotel is a two-minute walk from East Croydon train station, 13 minutes from London Bridge, and 15 minutes from London Victoria and Gatwick Airport.
Raj Kotecha, managing director of Amro Partners, said: “Croydon is a proven location for Build to Rent and we are focused on delivering a market-leading Net Zero Carbon – or better – asset that will set a new standard for purpose-built rental housing in the town.
“There’s strong and growing demand among Croydon’s young professional population for high quality rental accommodation in a ‘live, work, play’ setting and we look forward to working with our JV partner Flemyn LLP to deliver this exceptional new landmark building.”
