Transport for London has shortlisted Argent, Grainger and Greystar as its potential build-to-rent investment partners.
The winning developer will help the transport body develop sites such as Canning Town in east London and Hounslow in the west as it looks to deliver in excess of 3,000 homes across up to 10 sites in the capital as part of the first phase of works.
The housing developments will include a minimum allocation of 40 per cent affordable housing.
According to TfL, using build to rent will allow it to deliver the homes at pace while retaining a long-term interest in the developments.
The transport body said: “It [build to rent] will also create a long-term, stable way of generating income, which can then be reinvested back into the transport network.”
The transport body is anticipating up to 10 sites in the capital, with eight already identified (see below), including the 1,500-home site at the Limmo Peninsula in Canning Town, a 400-home development at the new Nine Elms tube station in Lambeth, a 400-home project at South Sidings in Ealing, and 350 homes at Hounslow West tube station.
Transport for London head of build to rent Daniel Lovatt said: “Build to rent 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.”
The shortlist comes following TfL’s planning approval for 350 new homes at Blackhorse Road in north London, to be developed by Barratt Homes.
Designed by RMA Architects, the Blackhorse Point development will be built on a 0.7 ha site and will deliver 350 new homes in Waltham Forest across six buildings.
The new homes will provide a mixture of studio, one, two and three-bedroom properties as well as retail and commercial space.
Transport for London’s anticipated build-to-rent sites
- Limmo Peninsula, Canning Town, Newham – with the potential for up to 1,500 homes
- Southall Sidings, Ealing – with the potential for up to 400 homes
- Nine Elms tube station, Lambeth – with the potential for up to 400 homes
- Armourers Court, Woolwich, Greenwich – with the potential for up to 400 homes
- Hounslow West tube station, Hounslow – with the potential for up to 350 homes
- Cockfosters tube station, Enfield – with the potential for up to 300 homes
- Arnos Grove tube station, Enfield – with the potential for up to 100 homes
- Montford Place, Kennington, Lambeth – with the potential for up to 100 homes