Cherry Park is a residential development next to Westfield Stratford City shopping centre in London E20.
The £670 Mn Private Rented Sector (PRS) residential scheme will be one of London's largest single-site PRS schemes. The construction began in the second quarter of 2019 and is scheduled for completion by 2023.
The Cherry Park Development will provide 1,224 PRS homes across three residential towers and mansion blocks. Private amenity space including solariums, patios, terraces and private balconies is provided for each home. Residents will also benefit from an amenity hub with a retail store, office space, double basement, swimming pool and gym, plant and refuse space, retail service yard and car parking.
This new residential quarter in the heart of Stratford City is an example of Unibail-Rodamco-Westfield’s strategy to significantly increase the densification of offices, residences, hotels highly connected to other facilities. This high quality mixed use scheme will transform Stratford town centre into a superlative build to rent location for London.
Images from www.gillespies.co.uk
This major investment by companies like the Canadian public pension fund PSP Investments and the global real estate company QuadReal Property Group, joined to the “Cherry Park Partnership”, is possible in a market such as the British one, where the share of rental residences is 38% against, for example, 26% in Italy. Where the rented residence is culturally conceived as a good investment and where, consequently, the rental properties can only be of very high quality.
In this context, StercheleGroup was chosen as partner for the supply of 792 prefabricated bathroom pods for the first phase of the project, whose delivery is proceeding according to the site work schedule.
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