DFI, an independent pan-European private equity real estate platform, today announces the forward funding of an £80 million gross development value, 200-bed co-living development in Kingston upon Thames, London, through an off-market transaction. London focused developer Viewranks Estates will deliver the project for DFI under a forward funding agreement.
The project, which has full planning permission and Gateway 2 approval, is located next to Kingston Train Station, a 30-minute train ride away from Central London. The area is experiencing significant undersupply of housing, with strong rental demand from young professionals and students, particularly recent university leavers just starting out in their careers and working in London. Residential demand is supported by a strong local economy in Kingston, led by consumer, professional services and technology sectors, with Unilever having opened its new HQ campus in Kingston Town Centre earlier this year.
Source: Press release sent 19th of August