New private rented sector deal for NHHG
The Notting Hill Housing Group (NHHG) has joined forces with the Greater London Authority (GLA) and Homes and Communities Agency (HCA) to take part in a new £90 million private sector housing project.
All three members of the consortium have put funds into the property portfolio, with homes situated across the capital - in Hounslow, Lewisham, Barnet, Hackney, Harrow, Croydon and Tower Hamlets.
It forms part of the ongoing Get Britain Building initiative, with the project to facilitate the construction of an array of new desirable private rented homes for residents in each area by developer Berkeley.
London's deputy mayor for land and housing Richard Blakeway said: "This is exactly the type of scheme we want to see more of in the capital.
"The Mayor is working to bring increased amounts of public land forward for development and using the private rented sector to accelerate supply is a bold way to help Londoners looking for a home and boost the economy."
Up to 140 properties are to be constructed across the seven locations, with specification for high-quality accommodation the order of the day for the developer.
A total of £45 million has been added to the portfolio by the Get Britain Building programme, with Berkeley set to get underway on the building the new homes in the coming months.
Once construction work has been completed - currently scheduled for 2018 - both the GLA and HCA will exit the deal, leaving NHHG the sole proprietor.
Meanwhile, a new £100 million mixed-use development was recently given the green light by officials at Westminster City Council, with the project to include 60 new luxury apartments and follows the purchase of 76 Marsham Street from the Department of Transport.
It is to be carried out by Barratt London and will deliver more than 80,000 sq ft of luxury accommodation once complete.
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