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House builder agrees deal to build 900 build-to-rent homes in Battersea
House builder Telford Homes has agreed terms on a £280m deal to build nearly 900 build-to-rent homes at Nine Elms Park in Battersea.
Telford Homes has entered into a design and build contract with developers Henderson Park and Greystar to build 894 build-to-rent homes, with the scheme, close to the new US Embassy, expected to complete in 2024.
The deal follows on from a pre-construction development agreement signed in June 2017. However, the deal to purchase the land from Royal Mail Group has only now been completed by Henderson Park and Greystar.
Jon Di-Stefano, chief executive of Telford Homes, said: “We are delighted to be building this exciting scheme for Henderson Park and Greystar. We have been working on the detailed design for some time such that we can immediately start work on site.
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“We continue to make progress against our objective to increase the group’s output of build-to-rent homes in London, and this contract with Henderson Park and Greystar, with whom we have a strong relationship, highlights our position as a trusted partner at the forefront of this fast-growing sector.”
East London-based Telford Homes outlined plans in its annual results earlier this year to build more build-to-rent homes as well as forward sales of affordable housing as part of a programme to de-risk its development pipeline.
In March it signed a deal with Invesco Real Estate and M&G Real Estate as long-term strategic build-to-rent partners to build more than 400 homes.
