Telford takes stake in £180m Capital Interchange Way
Telford Homes has exchanged contracts to buy a £180m scheme at Capital Interchange Way in Brentford, west London, from Redrow.
Telford has taken Redrow’s 50% stake in a joint venture with Catalyst, following the housebuilder’s decision to exit the London housing market last year.
Last summer, Redrow said increasing costs and a “two tier” planning system had forced it to withdraw from the capital.
Telford Homes has exchanged contracts to buy a £180m scheme at Capital Interchange Way in Brentford, west London, from Redrow.
Telford has taken Redrow’s 50% stake in a joint venture with Catalyst, following the housebuilder’s decision to exit the London housing market last year.
Last summer, Redrow said increasing costs and a “two tier” planning system had forced it to withdraw from the capital.
However, London specialist Telford Homes has ploughed ahead throughout the pandemic, progressing a number of new schemes, including a joint venture agreement with SGN for the acquisition and development of Rotherhithe Gasworks, which has capacity for 4,500 homes.
At Brentford, Telford will deliver 209 rental homes at the 420-home consented site. The remaining homes will be affordable via housing association Catalyst Housing.
Hounslow London Borough Council approved the plans in 2019, which also include 45,000 sq ft of commercial and retail and public realm. Telford will work with Catalyst to amend the amenity and commercial space provision.
Jerome Geoghegan, group land and planning director at Telford Homes, said: “With rental demand already outstripping supply, this acquisition represents a significant growth opportunity as we continue to expand our build-to-rent pipeline.”
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