East London affordable homes and historic facilities acquired by global investment firm
A global investment company has acquired social infrastructure across two sites in East London.
BBGI Global Infrastructure S.A. has completed the acquisition of a 100 per cent interest in a social infrastructure investment consisting of two recreation facilities and 100 affordable residential units across two sites in the London Borough of Tower Hamlets.
The historic Poplar Baths building on East India Dock Road was first redeveloped and opened in 1934, and remained in use until its closure in 1988. The refurbished and restored facility now includes a 25m swimming pool, a learner pool, ‘vapour baths’, a sports hall, two studios for exercise classes, a gym and a rooftop multi-use games area.
The Haileybury Community Centre consists of a sports hall, a public viewing gallery, fitness & dance studio, rooms for art, IT, music and meetings, and a commercial grade kitchen to support ‘food tech’ training. It also features a new rooftop with a multi-use games area and a new multi-purpose rooftop pitch.
In addition, the firm has acquired Randall House which comprises 60 affordable residential units, Dame Colet Court and its 25 affordable residential units and Baltonsborough Court with 15 affordable residential units.
BBGI co-CEOs Duncan Ball and Frank Schramm commented: “We are delighted to complete this high-quality availability-based social infrastructure investment with strong ESG credentials.
“Our strategy is to remain disciplined and selective in our approach to acquisition opportunities by only investing in availability-based assets that also align with our ESG principles, and not in higher risk infrastructure asset classes.”
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