Cheyne Capital has acquired City Link House in East Croydon, a vacant office building set to undergo a £210 million transformation into a modern co-living development.

The scheme will deliver 485 co-living units alongside 84 affordable homes, while retaining space for flexible commercial and community use. This large-scale project aims to support the continued regeneration of Croydon, offering a new form of urban living that prioritises affordability, convenience, and community engagement.

City Link House is the latest in a series of strategic investments by Cheyne Capital in the UK’s growing flexible-living sector. Previous projects include notable redevelopments in Canary Wharf and Central London, underscoring the firm’s commitment to redefining urban housing solutions.

Matt Floyd of Cheyne Real Estate commented: “We are proud to support a project that will contribute to the revitalisation of Croydon and enhance its appeal as a place to live and work. This development reflects our ongoing focus on high-quality, flexible-living solutions that respond to evolving urban lifestyles.”

The transaction was facilitated on behalf of the seller by advisory firms acting for Wittington Investments and its development partner, Fifth State.

A representative involved in the deal added: “This acquisition demonstrates the sustained demand for premium, purpose-built shared living schemes across the capital. Co-living offers an attractive proposition for a wide range of residents seeking a balance of independence, community, and urban connectivity.”

The development marks another step in the broader shift towards alternative housing models across London, as developers respond to rising demand for innovative, space-efficient and sociable living environments.

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