Transport for London (TfL) has selected Grainger to deliver over 3,000 new homes across eight sites in London as part of a landmark strategic partnership.
Grainger PLC, the UK’s largest residential landlord with over 8,200 rental homes, has today announced that the deal with TFL will see them produce a minimum of 40% affordable homes, with the remainder aimed for the private rental sector.
Helen Gordon, Chief Executive of Grainger, said: “We are delighted to be selected by TfL to work with them to deliver over 3,000 homes for Londoners. 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.”
“This partnership reaffirms Grainger’s position as a leading partner for development schemes in London, and further strengthens our existing presence in the capital.”
The partnership is a joint venture structure of 49:51 (TfL: Grainger) with all sites located adjacent to TfL stations, providing excellent transport connections for future residents.
James Murray, Deputy Mayor for Housing & Residential Development, said: “This is an important and significant new opportunity to unlock well-connected TfL sites for new rented homes for thousands of Londoners. By offering genuinely affordable homes, alongside the right to longer tenancies for all, we want these new developments to help set the standard for ‘Build to Rent’ housing in London.”
The full list of the anticipated sites are:
- Limmo Peninsula, Canning Town, Newham (potential for up to 1,500 homes)
- Southall Sidings, Ealing (potential for up to 400 homes)
- Nine Elms Tube station, Lambeth (potential for up to 400 homes)
- Armourers Court, Woolwich, Greenwich (potential for up to 400 homes)
- Hounslow West Tube station, Hounslow (potential for up to 350 homes)
- Cockfosters Tube station, Enfield – (potential for up to 300 homes)
- Arnos Grove Tube station, Enfield – (potential for up to 100 homes)
- Montford Place, Kennington, Lambeth – (potential for up to 100 homes)
Work has begun on the early stages of the planning application process for a number of the schemes mentioned above, with construction targeting 2021.
Built to Rent is one aspect of TfL’s wider programme for the capital, aiming to deliver an initial 10,000 homes across 320 acres.
Dan Lovatt, Head of Build to Rent at Transport for London, said: “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.”