U+I and Proprium Capital Partners have completed the sale of their joint venture Charlton Riverside site for £58m to a housing association.
The duo acquired the site, which sits within the residential-led Charlton Riverside Masterplan, in 2015 for £27m and has now sold for the upper end of its guide price after significant interest in the site.
Being developed in partnership with Galliard Homes, U+I had begun plans to deliver 370 homes by converting the Westminster Industrial Estate, by the Thames Barrier, into a £200m GDV scheme. The local heritage of the site dates back to the 1870s as a Victorian workshop and it forms part of the 250 acre Charlton Riverside Opportunity Area, which has been designated for regeneration by the GLA and the Royal Borough of Greenwich.
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