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Transport for London (TfL) has partnered with Grainger for a major development partnership delivering 3,000 new homes across eight sites in London.
A minimum of 40% of the units will be affordable housing, and the rest will be for the private rental market.
The partnership, a joint venture structure of 49:51 (TfL:Grainger), is part of TfL’s wider scheme to implement a long-term development pipeline that delivers an initial 10,000 homes across 320 acres.
The eight sites selected for this first phase are:
Head of build to rent at TfL, Dan Lovatt, stated: “Build to Rent is a really exciting programme and we’re thrilled at the prospect of working with Grainger PLC to build the homes that our city desperately needs. This long-term partnership provides us with an unrivalled opportunity to deliver affordable, high quality homes at pace while also generating significant ongoing revenue to reinvest back into the transport network.”
While chief executive of Grainger, Helen Gordon, said: “Through this long-term partnership we will provide much needed quality, purpose-built rental homes in attractive locations with great transport connections across the city. Future residents will benefit from Grainger’s experience and expertise, dedicated onsite management, and commitment to delivering great rental homes.”
Construction is set to begin by 2021.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.