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Battersea build-to-rent deal signed

Battersea build-to-rent deal signed

The Nine Elms area of south London is set for its latest property construction project after developer Greystar acquired two sites from Royal Mail. 
 
Greystar has signed a pre-construction deal with Telford Homes that will see the building firm working with it to get planning permission for a new build-to-rent scheme. After this, the pair will enter a design-and-build contract for the delivery of the project.
 
Chief Executive of Telford Homes Jon di-Stefano said: “Telford Homes is becoming established as a significant developer of build to rent housing in London. 
 
“This increasing reputation is helping the Group to secure major opportunities such as this and we are looking forward to assisting Greystar and building a strong partnership with them.
 
He listed other schemes with partners such as M&G Real Estate, L&Q and Folio London, part of Notting Hill Housing Group as examples of the growing profile of the firm in the prime areas of the capital. At the same time, he emphasised, this does not mean the company is restricting itself to this area, and is "maintaining a strong pipeline of developments for individual buyers in non-prime London locations."
 
The development will involve the construction of 894 build-to-rent apartments, adding to the growing supply of new flats in an area of the south bank of the Thames stretching from Vauxhall to Battersea Power Station that is being dramatically transformed. 
 
Although a number of completely new buildings are being constructed in this area and a new footbridge will be built across the river to Chelsea, the most notable development is the re-use of Battersea Power Station, with the iconic structure that had been derelict since 1982 being transformed into a new apartment development.
 
The latest stage in the transformation of the Power Station has been the completion this week of the rebuild of the iconic chimneys, which will remain in place in accordance with the structure's Grade II listed status. 

Image: iStock

 

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