Long Harbour agrees £156m forward funding deal at Tottenham Hale BTR scheme

Investment manager Long Harbour has completed a £156m second forward-funding deal at Berkeley Square Developments build-to-rent scheme in Tottenham Hale. This second investment, on behalf of the Long Harbour Multifamily investment programme, will fund the delivery of 315 new homes. The scheme will be a mix of one, two- and three-bedroom apartments, as well as two larger duplexes, and include 33 homes at discounted market rent. Around 4,306 sq ft of commercial space will also be created. Berkeley Square Developments and Long Harbour’s Way of Life residential platform will manage the properties upon completion in 2023. This latest investment in the development at 16-18 Ashley Road, N17, follows a £70m forward-funding deal agreed in May 2019 for the creation of 166 homes for rent, which are due to open next summer. Long Harbour Multifamily fund is looking to deploy £500m into BTR over the next 18 months across schemes providing more than 150 units in London, the South East and other regional cities, which its Way of Life platform can then manage. Rebecca Taylor, managing director for Long Harbour Multifamily, said: “Covid-19 has demonstrated not only the resilience of the BTR sector as an asset class but the role that BTR will continue to play in delivering the housing need despite an economic downturn. “We believe very strongly in the regeneration of the area around Tottenham Hale station and the delivery of the Ashley Road masterplan demonstrates our continued appetite for investment in the London market, our support for the construction industry and our drive for delivering quality homes for rent.” Knight Frank advised Berkeley Square Developments. To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette