Grainger wins TfL home rental mandate

Transport for London has picked Grainger as its preferred partner to build and manage 3,000 new rental homes in London. Grainger, the UK’s largest listed residential landlord, saw off competition from regeneration specialist Argent Related and US developer Greystar. The partnership will be 49% owned by TfL and 51% owned by Grainger. It is expected to provide homes over eight sites next to Tube stations including Cockfosters and Nine Elms. James Murray, deputy mayor for housing and residential development, said: “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.” Dan Lovatt, head of build-to-rent at Transport for London, added: “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.” Grainger chief executive Helen Gordon said: “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. “This partnership reaffirms Grainger’s position as a leading partner for development schemes in London, and further strengthens our existing presence in the capital.” Work has begun on the early stages of the planning application process for a number of the schemes. BTR is one aspect of TfL’s wider programme to provide a long-term development pipeline, delivering an initial 10,000 homes across 320 acres, with a target to start construction on the sites by 2021. The eight sites: Limmo Peninsula, Canning Town, Newham (potential for up to 1,500 homes) Southall Sidings, Ealing (potential for up to 400 homes) Nine Elms Tube station, Lambeth (potential for up to 400 homes) Armourers Court, Woolwich, Greenwich (potential for up to 400 homes) Hounslow West Tube station, Hounslow (potential for up to 350 homes) Cockfosters Tube station, Enfield – (potential for up to 300 homes) Arnos Grove Tube station, Enfield – (potential for up to 100 homes) Montford Place, Kennington, Lambeth – (potential for up to 100 homes) To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette