Deal sealed to start world’s tallest modular towers in Croydon
Investors have agreed a funding deal to start construction of a twin-tower scheme of build-to-rent flats that will become the world’s tallest offsite project.
The towers scheme will be worth over £150m and will be a trailblazer for modular construction methods. Presently, the tallest prefabricated building in the world is a 32-storey block in New York. The modules will be shipped with the electricity prewired and plumbing, furniture and windows already installed. The total build time for the project will take just 24 months, from construction starting to residents moving in to their new homes.
Contracts have been exchanged to acquire the 550-apartment residential development in Croydon, London. On completion, the 101 George Street development will comprise two of the world’s tallest towers built using modular construction, at 44-storeys and 38-storeys.
The site has full planning permission and the transaction is expected to close in the first quarter of 2018.
This is an ambitious development and signals the industries commitment to finding innovative solutions to London’s housing challenge.
Source: Construction News
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