Located in East Croydon, Cheyne plans to redevelop City Link House into a co-living development with 485 units and 84 affordable homes.

Once completed, the site will also include a gym, wellness suite, cinema, games room and recording studio with Cheyne also targeting BREEAM ‘Outstanding’ and EPC ‘A’ ratings.

Cheyne is seeking to take part in the ongoing regeneration of Croydon, which has seen over one million square feet of office space taken up in the past five years.

The transaction was facilitated by CBRE and Springer Nicolas representing Wittington Investments and its development manager Fifth State.

Gowling WLG provided legal representation for Wittington Investments and its Development Manager, Fifth State. DLA Piper represented Cheyne Real Estate.

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 “We are proud to support a project which can play a role in furthering the regeneration of Croydon, and will contribute to its vibrant business and living community,” said Matt Floyd at Cheyne Real Estate.

“This project reflects Cheyne Capital’s continued commitment to the UK  flexible-living sector, building on our involvement in landmark developments such as Ark (previously The Collective) Canary Wharf and Taxi House in Central London”.

Jonathan Allen, director of land transactions and development (living sectors) at CBRE, added: “With tenants increasingly prioritising flexibility and convenience, co-living is emerging as a compelling housing solution, perfectly suited to a diverse tenant demographic.

“We are delighted to have brokered this deal between Wittington Investments and Cheyne Real Estate, and look forward to witnessing the positive impact this development will have on the community.”