The development will comprise 274 one-, two- and three-bedroom rental apartments across two buildings overlooking a landscaped courtyard.
Residents will benefit from a wide range of amenities, including concierge facilities, residents’ lounges, a gym and two roof-top terraces.
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View of the courtyard
Balfour Beatty Investments acquired the site in January 2016 and received full planning consent thereafter.
The financial agreement involved the transfer of the land ownership in full to AIG.
Balfour Beatty is carrying out the construction of the development with work already started.
Residents are expected to move in during the summer of 2020.
David Swarbrick, managing director of UK investments at Balfour Beatty Investments, said that it was delighted to be working with AIG Global Real Estate on the delivery of this exciting development.
“The Lancastrian [the development] will support the regeneration of the area, providing high-class accommodation for residents.”