CompassRock International, the global living sector asset management and property management specialist has acquired Stafford Yard, a newly-developed 295-unit build-to-rent (BTR) scheme in Bristol, delivered by leading UK residential developer Dandara Living.
The landmark scheme which is just a mile from the city centre, is one of the first to be completed within the strategic Bedminster Green Framework Area, and will contribute to the supply of much needed rental homes to the Bristol market, alongside the ongoing regeneration and revitalisation of Bedminster through improvement of local public transport links and improved public spaces.
Designed to meet the evolving needs of today’s urban dweller, the 295 new studio, one- and two-bedroom homes are suitable for single occupancy, sharers and families.
Residents will also benefit from a range of carefully considered onsite amenities including a games room; gym; co-working suite; TV lounge; house kitchen and dining space; lounges; roof terraces, courtyard gardens and private balconies.
The development’s sustainability credentials include connection to the District Heat Network providing residents with low-cost energy, over 300 secure cycle spaces, and easy access to the Malago Greenway cycle path, Metrobus and rail network. All homes are EPC B, providing comfort and efficiency and the scheme is targeting 4-star Home Quality Mark (HQM) rating.
Jim Davies, CEO of Dandara Living, commented: “The acquisition of Stafford Yard by CompassRock International marks another significant milestone for Dandara Living. It is our third transaction in the last six months, underlining the continued confidence in the UK Living sectors, and our position as a leading specialist in the design and delivery of large-scale Living developments.”
David Woodward, CEO of CompassRock said: “We are thrilled to add this high-quality BTR asset developed by Dandara to our UK portfolio. CompassRock’s property management group will run the day-to-day operations of this asset, bringing our unique combination of US/UK expertise. This property will help meet the demand for high-quality rental apartments in the dynamic Bristol market. CompassRock continues to evaluate other opportunities as the investment market begins to gain momentum after a slow period over the past couple of years.”
William Pearce, Associate Director, Savills Operational Capital Markets, added: “Savills is delighted to have advised Dandara on the disposal of Stafford Yard, Bristol, to CompassRock, a transaction that reinforces market confidence in the UK multifamily development sector, the continued appetite for well-located, high-quality assets and experienced delivery partners.”
Savills Operational Capital Markets and CMS advised Dandara. Pinsent Masons advised CompassRock.
