HUB and Bridges agree funding with CDL for Yardhouse co-living

HUB and Bridges agree a forward funding deal with City Developments Limited (CDL) to deliver Yardhouse, a co-living scheme with affordable homes in London.

Yardhouse co-living development. HUB and Bridges agree funding with CDL to deliver the scheme | BTR News
Yardhouse co-living development. HUB and Bridges agree funding with CDL to deliver the scheme.

Developer HUB and sustainable impact investor Bridges Fund Management have signed an £88m forward funding deal with Singapore-based real estate developer CDL to deliver Yardhouse, a mixed tenure scheme that will include co-living and affordable homes.

HUB and Bridges were advised by Knight Frank, Gowling WLG and Archor on the deal. The forward funding agreement is testament to the innovative nature of the scheme as an example of next-generation co-living.

“This landmark deal reflects the strong demand in London for lower-cost, high-quality co-living space. We have worked extensively with the local community to make sure that Yardhouse caters to local needs – in line with our ongoing commitment to support best-in-class developments in needs-driven sectors. We can’t wait to see this pioneering scheme come to life.”

Simon Ringer, Partner at Bridges Fund Management

The Yardhouse scheme, in Wood Lane, west London, will deliver 209 co-living homes alongside amenity spaces and two roof terraces offering views across London.

It will also include 60 high-quality affordable homes for single women through a partnership with specialist housing association, Women’s Pioneer Housing (WPH). A new head office for WPH is also included in the plans.

Yardhouse will replace 36 existing  WPH homes and 300 sqm of office space, creating a new vibrant and dynamic living environment with modern lifestyle preferences.

“I am really pleased that this milestone has been reached, and that this project, which will almost double the number of affordable homes on this site, is moving forward. Each home will be spacious and built to very high standards, significantly improving our offer to women locked out of the London housing market. Through this partnership with HUB and Bridges Fund Management, we are committed to delivering an exemplar scheme and fostering a genuine community.”

Tracey Downie, Chief Executive, Women’s Pioneer Housing
The Yardhouse scheme which will include 60 high-quality affordable homes for single women | BTR News
The Yardhouse scheme which will include 60 high-quality affordable homes for single women.

The Yardhouse site is within easy reach of Westfield, White City Place, Television Centre and Imperial College London’s campus. Its location also offers excellent transport links, making it ideal for co-living.

The project is the result of close collaboration with Hammersmith and Fulham Council, the local community, and local business owners to bring forward a scheme that’s supported at all levels in the borough.

This is HUB and Bridges’ first co-living forward funding deal, and CDL’s first co-living scheme in the UK. Yardhouse will also be the first co-living scheme in the borough of Hammersmith and Fulham.

“This forward funding deal – HUB’s 12th – will be instrumental to our delivery of this next gen co-living scheme. We’re thrilled to partner with CDL on its first co-living development in the UK, and move forward with the first project in our growing co-living pipeline. Not only does this further strengthen our commitment to innovative and inclusive housing solutions that meet the evolving needs of communities, but it reinforces our confidence in the resilience of the real estate market and the appeal of this emerging asset class.”

Damien Sharkey, Managing Director, HUB

The strategic partnership between HUB, Bridges, and CDL aims to address the growing demand for innovative and sustainable housing solutions, particularly in urban centres.