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Exclusive: German investor buys £90m London build-to-rent scheme
A German investor has bought a build-to-rent scheme in east London, Inside Housing Living can reveal.
A German investor has bought a build-to-rent scheme in east London, Inside Housing Living can reveal #UKhousingGrand City Properties (GCP) has bought the Goodmayes High Road scheme in the London borough of Redbridge from developer Fairview New Homes.
Inside Housing Living understands the deal is worth around £90m, which would make it one of the biggest build-to-rent funding deals of the year.
The development consists of 283 private build-to-rent homes across two blocks of 20 and 21 storeys, plus amenity space for residents, a gym, private gardens and roof terraces.
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The scheme is located near Goodmayes Elizabeth Line station, and forms part of a wider masterplan of 571 homes, One Goodmayes, which contains homes for sale and shared ownership properties owned by Latimer, an arm of Clarion housing association.
The German investor’s purchase was confirmed by Companies House filings, which list Russell Coetzee, finance director of GCP, as director of a new company incorporated on 4 November.
GCP specialises in residential real estate and invests primarily in Germany and London.
A GCP spokesperson told Inside Housing: “GCP has established a strong and unique presence in the London market. The platform is robust and scalable, positioning GCP for continued growth.
“The addition of the Goodmayes portfolio is expected to be accretive, enhancing both the quality of the assets and [GCP’s] cash flow profile.”
Fairview declined to comment on the deal. In 2022, the developer appointed Savills to seek a forward funding partner for the build-to-rent scheme.
At the time, full planning permission had already been granted and work was expected to start on the site that year, with practical completion scheduled for May 2026.
Fairview subsequently completed the first phase of the wider One Goodmayes masterplan in 2024 and launched the second phase of homes for sale in September.
The scheme was designed by architects Stockwool and landscape planners Fabrik.
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