Amro Partners has acquired a 200,00ft² office building in Sutton for its next Build to Rent project, taking its total transaction volume since the company’s inception in 2012 to over €1.1bn (£1bn). The €196m (£170m) GDV project will deliver circa 450 new Build to Rent homes with shared amenities including co-working spaces, gym and wellness centre, residents’ lounge, cinema room, and roof terraces, located directly opposite Sutton train station.
In retaining and extending the existing 1970s office building, Amro will deliver one of Europe’s most sustainable residential assets with significant embodied carbon savings. The building will target ratings of BREEAM Outstanding, Fitwel 3* and WiredScore Platinum in line with Amro’s pledge to become a net zero carbon company by the end of 2025. The proposal is for a retention of the existing concrete structural frame, comprised of two interconnected towers, and a vertical extension to create a mixed-use scheme with commercial space on the ground floor.
Occupying a prime location in the Sutton town centre, adjacent to Sutton train station, the project benefits from a connectivity rating of PTAL 6A and will help meet strong local demand for high quality, purpose-built and professionally managed rental accommodation. The site has been purchased subject to planning, with development work scheduled to commence on site in early 2024 and the completed property opening in 2026.
Raj Kotecha, Co-Founder and Managing Director of Amro Partners, said: “Due to the embodied carbon reuse, this will be one of the most sustainable residential buildings in Europe upon completion. Demand for energy-efficient, professionally managed rental homes is strong and growing, and this project will help meet the needs of young professionals and families locally while playing a key role in the wider regeneration of Sutton town centre on an important ‘Station Gateway’ site. This acquisition represents a major milestone in the evolution of Amro since we launched a decade ago, taking us over €1.1bn (£1bn) in total transaction volume, and we remain focused on our target of delivering 5,000 highly sustainable multifamily homes across the UK over the next five years.”
