Transport for London has named Grainger plc as its preferred partner to build 3,000 new rental homes across the capital.
The homes will be built on existing TfL landholdings, including at Nine Elms, Hounslow West and Arnos Grove Tube stations, and the agency says the ‘Build to Rent’ partnership will deliver a minimum of 40 per cent affordable homes on each site.
Other sites expected to be developed under the partnership include Southall Sidings in Ealing which TfL says has the potential to deliver up to 400 homes, Armourers Court in Woolwich, and Montford Place, Kennington which could yield up to 100 homes.
TfL says the potential for each site will be considered individually and that local councils will be consulted “to identify the needs of the area.”
Dan Lovatt, Head of Build to Rent at TfL, 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.
“Great customer service will always be at the heart of our partnership and, together with Grainger plc, we will be providing thousands of Londoners with well-designed homes, in places where they want to live.”
James Murray, Deputy Mayor for Housing & Residential Development, added: “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.”
Helen Gordon, Chief Executive, Grainger PLC, 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.”