Private rented sector specialist Fizzy Living has made its fifth acquisition, buying a pair of blocks at the £230m Lewisham Gateway, one of the largest regeneration projects in South East London.
Fizzy Living has bought two adjoining 15-storey blocks that are set to comprise 136 one- and two-bedroom flats in total. It is thought to have paid Muse Developments more than £35m for the pair.
The acquisition brings Fizzy’s portfolio to 382 flats. The company has an acquisition target of 1,000 homes.
The deal comes after Fizzy Living secured £200m of backing from Silver Arrow, a subsidiary of Abu Dhabi Investment Authority.
The Lewisham Gateway deal is the second agreed by the pair. Fizzy bought its first residential tower of 75 flats at Vermillion scheme in Canning Town, E16, in 2012 from English Cities Fund, a joint venture between Muse, Legal & General Property and the Homes and Communities Agency in 2012.
Lewisham Gateway is a partnership between Muse, Lewisham council, the mayor of London and Transport for London. The scheme is expected to deliver more than 700 homes, 65,000 sq ft of shops, restaurants and commercial space as well as public realm.
