NOMA’S landmark 34-storey 450 apartment private rented scheme has taken a step forward following a £128m deal.
The Angel Gardens deal follows the sale of the nearby One Angel Square by the Co-op in 2013 for £142m
The Co-operative and partner Hermes Real Estate have sold the Angel Gardens scheme to Apache Capital Partners and Moda Living – a joint venture partnership which has so far secured a £1bn PRS pipeline of around 5000 units across prime UK city centre sites.
The Angel Gardens scheme - which has full planning consent – spans 520,000 sq ft within the 20-acre NOMA site and will feature a seven-storey glazed foyer, a cinema room, a gym, four restaurants, retail units, digital integration and a multifunctional roof terrace that can be used for five-aside football, tennis or as a yoga practice space.
Angel GardensRichard Jackson, co-founder and managing director of Apache Capital Partners, said: "Our joint venture partnership with Moda Living has now secured a £1bn premium PRS pipeline of prime UK city centre sites. Apache Capital has the financing available to bring this to market and has already secured £128m that fully funds our Angel Gardens development.
Johnny Caddick, director of Moda Living, added: "We are bringing out of the ground, developments that we know people aspire to live in and an investment opportunity that is unique and ahead of the competition."
The Angel Gardens deal follows the sale of the nearby One Angel Square by the Co-op in 2013 for £142m.
