Weston Homes agrees sale of Barking homes to RLAM Property

Weston Homes has sold 85 homes in its Barking-based Town Quay development to Royal London Asset Management Property, part of Royal London, for £36m. The duo has signed a development agreement under which Weston Homes will construct the project. The 85 BTR homes are set across two buildings, marked for practical completion in November 2026, comprised of one, two, and three-bedroom apartments. Town Quay is a £50m mixed-use development which will provide 147 homes, with a 42% affordable housing allocation and 10,764 sq ft of commercial space. Designed by PRP Architects, Town Quay is spread across three buildings, one 11-storey and two 7-storey. On the ground floor of the buildings there are parking bays and cycle storage and planned food and beverage commercial units, workshops and artists’ studios.  Bob Weston, chairman of Weston Homes, said: “We are delighted to continue working together with Royal London Asset Management Property at our Town Quay development. This second forward fund agreement further solidifies our relationship and demonstrates the confidence in our ability to deliver high-quality residential projects. “We have now undertaken BTR deals worth a combined total of £146.1m with Royal London Asset Management Property. We look forward to bringing this development to fruition and continuing to explore further opportunities.” Mark Evans, head of property at Royal London Asset Management, added: “This second venture with Weston Homes highlights our commitment to expanding our residential portfolio. Town Quay aligns with our goal of delivering sustainable, high-quality rental housing in prime locations, providing long-term value for our investors and future residents.”