CDL spending £88 million on Yardhouse in the UK, boosting private rented sector portfolio

City Developments is spending £88 million ($148.6 million) to expand its so-called private rented sector (PRS) portfolio in the UK, with the acquisition of Yardhouse.

The 250-year leasehold site will be developed into a 17-storey apartment block with 209 co-living studio units with a total gross floor area of 102,600 sq ft.