Galliford Try and Midgard picked for Brent Cross Town homes

Galliford Try and Midgard are to build more than 350 BTR and market-sale homes at the £8bn Brent Cross Town in north London. The new contractor appointments and financing are part of the joint venture between Related Argent and Invesco Real Estate formed at the end of last year to deliver £600m of GDV including 800 homes as well as retail by 2025. Galliford Try will deliver 249 new build-to-rent homes with residents’ amenities across three new blocks designed by Squire & Partners. ICG Real Estate has provided the debt funding facility to the joint venture. Midgard, part of the JRL group, will build a market-sale residential building, the Ashbee, featuring 107 new homes, also designed by Squire & Partners. Barclays Bank provided the debt funding facility for the building to the joint venture. Midgard is already on site with 170 homes at the site’s Delamarre building, as well as 120 affordable homes in partnership with Related Argent, Barnet Council and L&Q. The announcement is the latest phase in what aims to be one of the UK’s largest net zero towns. Five buildings are currently under way, due to be completed from the end of 2024, which will provide close to 650 homes and 662 student rooms in partnership with Fusion Students. Sheffield Hallam University will also open its first campus outside Yorkshire at Brent Cross Town. That forms part of the wider £8bn Brent Cross Town development, which is being delivered in partnership between Related Argent and Barnet Council. It will deliver nearly 7,000 new homes, 3m sq ft of offices, a high street and schools surrounded by 50 acres of parks and playing fields and a new train station. The BTR offering at Brent Cross Town forms a major part of Related Argent’s plans to build a portfolio of more than 3,000 homes. Its first BTR development, Author King’s Cross will be completed in summer 2023. Tom Goodall, partner and head of residential at Related Argent, said: “The start of construction of on the new BTR homes and additional market sale homes adds to the momentum behind Brent Cross Town, creating a thriving new community of residents. Related Argent focuses on delivering vibrant and well-connected places not just buildings. Our sales launch for the first market sale homes at Brent Cross Town was one of the most successful launches in London last year and we anticipate high rental demand for the new BTR homes.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews