Coda Avanton Battersea
All A:Living rental units are now let

All A:Living rental units are now let

28/03/2022 by Buildington
Following the lettings' success at their flagship Coda development in Battersea, developer Avanton is planning a new pipeline of Build to Rent projects in the Old Kent Road and Wembley that will provide around 800 units under the A:Living brand.

For the launch of the A:Living brand at Coda, 20 Build to Rent units were released on the lettings market through Savills. The premium two-bedroom apartments are located between the 2nd and 20th floors, each with a private terrace, all available fully furnished, complete with lifestyle amenities including a residents-only club lounge, concierge, state-of-the-art fitness studio and access to a landscaped podium garden.

In just over three weeks all 20 units have let (take-up rate of 6-7 per week) at rental values ranging from £3,500 pcm to £4,000 pcm on 12-36 month tenancies (with standard break clauses). This pilot scheme has generated Avanton a total rent roll of over £700,000 per annum into the corporate entity the units are held.

The tenants are a combination of young professionals in their 20s and early 30s, flat sharers and wealthy overseas students (from the EU, Middle East and Asia). All the tenants liked the ‘turn-key’ offering at Coda with the A:Living collection dressed by three interior designers: Andrew Martin, Juliana Ardenius of JMI Group and Olivia Caplan of Caplan Design.

Designed by Pankaj Patel MBE of multi-award-winning practice Patel Taylor, the £260 million (GDV) development in Battersea is located on a large 2.1-acre island site between York Road and York Place, with an architecturally striking central residential tower, known as Coda, which provides 130 private sale apartments and penthouses which are now almost 70% sold.

Two-bedroom apartments are currently available from £790,000 and three-bedrooms for £1,510,000.

Inspired by Battersea’s Victorian mansion blocks, the two buildings on either side of the tower are six and 11 storeys and provide 169 homes for PRS Apartments managed by A2Dominion.

The three apartment buildings sit on a raised podium above the newly opened Royal Academy of Dance headquarters on the ground floor, officially launched by HRH The Duchess of Cornwall, with the podium roof providing landscaped residents’ gardens designed by RHS Chelsea Flower Show medal-winner Exterior Architecture.

The launch and success of A:Living at Coda comes after Avanton announced expansion plans into the Build to Rent sector, with several pipeline projects alongside a £500 million fund for strategic land acquisitions.

The £730 million (GDV) Ruby Triangle on Old Kent Road will provide 1,414 new homes, of which circa 50% (700 units) will be build-to-rent. The Farrells designed scheme will comprise residential towers, between 17 to 48 storeys in height, designed around a central park and complete with sports hall, gymnasium, retail units, workshops and studios.

In Wembley, Avanton and project partner Canada Israel, have just submitted a planning application to the London Borough of Brent for the regeneration of the 2.5 acre (1.26 hectare) Wembley Point site on Harrow Road. This will be a residential-led development known as Stonebridge Place with a GDV value of up to £250 million providing 515 new homes of mixed tenure, of which around 100 have the potential for Build to Rent units. The proposed scheme includes 1,200 sq ft of commercial space, new boxing gym with public café, landscaped gardens, pedestrian boulevards and new water features.

David Ronson, Sales and Marketing Director of Avanton commented: “We are delighted by the success of the A:Living Build to Rent units at Coda. The success of this pilot scheme demonstrates the significant demand for the premium product and lifestyle offering at Coda, and the launch of our first Build to Rent units which offer a new type of high-quality tenure option for Londoners. A:Living provides exceptional homes with stylish interiors curated by highly regarded designers. Build to Rent homes provide a solution to help with the capital’s housing shortage, and these multiple tenure schemes offer tenants a sought-after lifestyle at competitive prices.”

Omer Weinberger, CEO of Avanton added: “London’s Build to Rent sector is rapidly growing in size, quality and product range and last year Avanton announced a three year expansion into this sector, seeking land and strategic opportunities to deliver high-quality purpose-built stock to meet the market demand. Our successful launch of A:Living is an exciting step, with our pipeline developments set to further deliver a diverse portfolio of build-to-rent units for young Londoners to choose from.”

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