“Striking” £130m New York-style tower to deliver over 250 homes on Old Kent Road

London investor-developer Avanton has announced the launch of THE BeCa for off-plan sales; developed in joint venture with Housing Growth Partnership, and with Knight Frank appointed as global sales agent.

The “striking” £130m (GDV) tower will bring chic loft-living to Old Kent Road, as the first phase of Avanton’s consented £730m Ruby Triangle masterplan.

Inspired by Manhattan’s “iconic” Tribeca neighbourhood (originally written TriBeCa) and with architecture by award-winning Farrells, THE BeCa is an 18-storey red brick tower providing 170 private sale apartments, a mixture of studios, one- and two-bedroom apartments.

As the first opportunity to invest in this scheme, Avanton has released an initial collection off-plan, with prices starting from £440k for a one-bedroom home. To launch sales, Avanton has commenced a digital advertising campaign, with nearly 20 apartments sold off-plan to UK investors with values ranging up to £900 per sqft.

Avanton is also undertaking its first overseas sales exhibitions since before the Covid-19 pandemic, with the next to be held from June 16 to 18 (The Langham Hotel, Shanghai). Construction is well underway, with a marketing suite and show apartment to launch next Spring.

The first residents are due to move in late 2024, with site completion scheduled for Q1 2025. THE BeCa and the Ruby Triangle masterplan form a key part of the area’s ongoing regeneration and a prime investment opportunity.

Old Kent Road is set to undergo monumental transformation into a new ‘city’, with 20,000 new homes, 10,000 jobs, alongside retail, office and leisure space and public landscaping with a combined GDV of £10bn, as a designated Opportunity Area.

Set on a 1.6-acre site, THE BeCa will provide 262 design-led homes, with 40 per cent of these being affordable, with high quality specification, state-of-the-art residents amenities and 22,195 sq.ft. commercial space on the ground floor which will include a gym.

Exclusive resident amenities will include dedicated porter service, co-working space, and a games room. Every home will have a private balcony as well as access to three landscaped rooftop gardens offering panoramic views over the London skyline.

Sophie Davies, associate in the London City & East New Homes team at Knight Frank, said: “The team at Knight Frank are really excited to have THE BeCa finally go live on the market. It’s a great opportunity for young professionals, parents who are perhaps looking to buy for their children studying in London as well as domestic and overseas investors alike.”

By Matthew Neville – Senior Correspondent, Bdaily

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