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London's Build To Rent sector expands with 1,300 new units

London's Build To Rent sector expands with 1,300 new units

Three multi-million pound deals will provide over 1,000 new homes specifically for private rent in London, under the government’s Build To Rent initiative.

Some 903 homes will be built for rent at Stratford’s Olympic Village, with 278 homes at Newington Butts in Southwark, and 172 split across various sites in Hammersmith, Westminster and West Kensington.

The schemes will be completed in 2017 and 2018 and each site will include a mix of one, two and three bedroom properties, all located closely to underground stations.

These three deals are the latest to receive Build To Rent funding, delivering a total 4,200 new homes worth a combined £464m since 2013.

The chief executive of the Homes and Communities Agency, Andy Rose, says: “The HCA is focused on increasing housing supply and these latest deals will help to build a strong private rented sector providing a choice of quality homes in areas of high demand.”

Last month the British Property Federation gathered some 40 developers, property consultants and block managers to send an open letter to the new government to create what the federation call “the economic and planning conditions which will allow the growth of the Build To Rent sector.”

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