Mayer Brown advises on sale of The Castle BTR scheme

Mayer Brown advises Tide Construction on the sale and forward funding of The Castle Build to Rent scheme in London.

Street level view of Outpost Management's Enclave Acton Build to Rent development | BTR News
Street level view of Outpost Management's Enclave Acton Build to Rent development.

International law firm Mayer Brown has advised developer Tide Construction on the sale and forward funding of The Castle Build to Rent scheme in North Acton, London.

The Mayer Brown team was led by Real Estate partner Chris Harvey and included senior associates Hollie Norman, Tim Collier and Annabel Ersser, Construction & Engineering senior associate Charles Pacey and Tax partner Kitty Swanson.

The 220,000 sq ft, 32-storey (106-metre-high) development in West London is a joint venture between BlackRock Private Markets and Outpost Management, who acquired the scheme earlier this year.

The joint venture also secured a £105.2m loan facility from Precede Capital Partners and QuadReal Property Group to fund the acquisition and development of The Castle building.

Designed with HTA, The Castle Build to Rent scheme will deliver 462 new self-contained studios. 18,000 sq ft of amenity space across five floors including a roof terrace on the 32nd floor will include a cinema, library, gym, co-working space and dining rooms.

The scheme will also include a 3,500 sq ft public house, replacing the previous pub, The Castle, which dates to the 1930s and has remained vacant since 2020.

Tide Construction is the developer and contractor of the scheme and will deliver the project using its volumetric manufacturing arm, Vision.