McLaren has been appointed to deliver Essential Living’s next build-to-rent scheme in a deal understood to be worth £35m.
Work on Farrier House includes the construction of 149 homes, of which 104 will be for long-term rent and 45 affordable.
Essential Living said the project will be the first purpose-designed rental development for the area, which is situated in Bethnal Green, east London.
Farrier House is one of Essential Living’s first eight schemes across London and the South-east.
The company plans to deliver 5,000 homes over the next 10 years, specifically for rent.
Last week the company acquired a 0.65 ha site in Brentford, west London, from Columbia Threadneedle Investments for £16.3m.
Consultation will begin later in the year with a planning application anticipated next summer.
Essential Living says the site complements its other west London project: the Perfume Factory in North Acton.
Plans for this scheme have been submitted to Ealing Council and should be heard by the neighbouring borough’s planning committee at the end of the year.
The project will create around 600 homes for rent with additional commercial and public space.
Essential Living construction director Ray Theakston said: “The crucial consideration we make as an investor, developer and manager of homes for rent is what the buildings will look like in five, 10 and 15 years’ time.
“The quality of the build is business critical as our number one priority will be to maximise customer satisfaction and ensure residents stay in our homes for as long as possible.”
Addressing the Farrier House scheme, he added: “This is an important early scheme for us and it was important to find a partner who shared our vision and understood our focus on detail and quality.”
McLaren to build Farrier House
- Contract: design and build
- Number of homes: 149 homes split across two buildings, measuring six and eight storeys high
- The contractor will also be responsible for the enabling works on the project
- Farrier House is located in Bethnal Green, East London
- Essential Living bought the site for £14m in May 2013 from developers Albany