Amro Partners, in partnership with Flemyn LLP, has acquired the Croydon Park Hotel in Croydon, South London for a new build to rent development.
The project will create around 600 new build to rent units with shared amenities including roof terraces, lounge areas, co-working spaces, a gym/wellness centre, and cinema room.
The building is located close to East Croydon train station and Boxpark Croydon.
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 was previously owned by Croydon Council, which bought it for almost £30 million in 2018. The decision to buy the property was criticised by the council’s own auditors Grant Thornton, deeming it “inherently flawed”.
What They Said
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.”