Avanton, a London based property investment firm, owned by 37-year-old Omer Weinberger, is to invest £500m in the construction of 5,000 build-to-rent apartments over the next 2 to 3 years. The so-called “land fund” will focus on acquiring different sites within inner city London, investing between £20m and £100m per site. Sites with and without planning permission, as well as commercial sites that can be converted to residential use, are being considered.
Some of the targets include a 4.45 acre Homebase site off Manor Road, which would be used to build 453 flats. 1,414 flats are to be constructed on Old Kent Road in Southwark. On yet a third site, 500 build-to-rent units will be erected.
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