Essential Living, a developer and operator of homes for rent, has called upon Elements Europe to provide a modular solution for its award-winning Creekside Wharf scheme in Greenwich.
Elements Europe will manufacture and deliver 653 Modules to the site in London at a rate of up to 20 a week from February 2017.
Essential Living has already started on site. Elements Europe’s modules will be installed around the scheme’s concrete core.
Elements Europe’s systems will halve the time spent on site to 32 weeks meaning that Essential Living can bring forward much-needed homes for rent far more quickly than if they had used solely on site techniques.
Off-site construction brings a number of benefits for build to rent developer-operators, giving them the chance to earn rental income sooner, reduce energy bills and refurbish the buildings more easily which is crucial as they’ll be holding the asset for years.
The prototype module that Elements put together will be one of the last fitted to Creekside Wharf, underlining the commitment to sustainable development.
At 23 storeys tall, Creekside Wharf will also be one of the tallest modular buildings in the UK.
Elements Europe is accredited by the Build Offsite Property Assurance Scheme, a linkup between Lloyd’s, BLP, Buildoffsite and RICS, which ensures their product is mortgageable for two terms. This essentially acts as a warranty wrapper, lasting for more than 50 years, giving mortgage lenders confidence.
Creekside Wharf is the UK’s first housing scheme with a dedicated family block. Elements Europe will deliver for resident’s wider corridors, buggy storage, greater acoustic insulation and a ground floor nursery.
Martin Bellinger, chief operating officer at Essential Living, commented “We’re pleased to be able to appoint Elements Europe, veterans of the modular world, on what promises to be an innovative scheme in Greenwich. Having the potential to collect rent six months earlier, than a traditional build, is appealing. This is achievable because you can commence work on the modules off-site at the same time as constructing the traditional concrete core on-site which the steel-framed modules then plug into.”
Simon Underwood, Managing Director at Elements Europe, said “Elements Europe is delighted to have been appointed by Essential Living to deliver Creekside Wharf. We have developed an industry-leading solution for Essential Living and the build to rent sector bringing together many years of experience.
“Modular solutions have been used for many years throughout the hotel and student accommodation sectors and our entry into the build to rent market is just a natural progression, bringing homes forward sooner, reduced capital construction costs, improved quality and safety of delivery.” Underwood added.
Image courtesy of Essential Living / Assael Architects.