£110m London build to rent schemes approved

Aaron Morby 2 years ago
Share

Residential developer Grainger has got the green light for 84 homes across two sites in west London.

Grainger Hortensia Road

The Royal Borough of Kensington and Chelsea has given detailed planing for 53 homes on the former car park site at Young Street and 31 homes at Hortensia Road.

Work will start on both developments with a development value of more than £110m within a year.

Grainger, which was selected in September 2012 by the council to develop and manage mixed tenure housing on the council’s land, will deliver a variety of tenure types across the two developments.

Half the homes will be managed by Grainger under a 125 year agreement, for which they will receive a management fee.

The Council will retain the freehold and will share a proportion of the long term rental income stream with Grainger.

A proportion of the development at Hortensia Road will be affordable housing, including six four-bedroom family houses.

Andrew Cunningham, Chief Executive of Grainger, added: “We have been closely involved in the development of the private rented sector.

“This innovative scheme will provide much needed homes for a variety of tenure types in central London, and I believe this could become an appropriate model for other Local Authorities and developers to adopt who are looking to provide homes for the private rented sector.”

The schemes were designed by Assael architects. DP9 were the planning consultants.

Latest news

Opinion: Contractors give clients a reality check on costs

Sanity prevails as main contractors walk away from under-costed projects
2 days ago

Denman repair arm bought out of administration

New firm set up by Denman family buys maintenance division after contracting closes
2 days ago

Construction new work output up 6.8% last year

Infrastructure wobble sets alarm bells ringing among civil engineering firms
1 day ago

Former P C Harrington director launches tribunal case

Brian Wakefield lodges claim against failed concrete giant
2 days ago

Second major office approved at Croydon’s £500m Ruskin Square

Schroders/Stanhope JV gets all clear for 250,000 sq ft office project
2 days ago

Robertson bags £40m Dundee Waterfront scheme

Hotel, flats and office scheme to be built next to V&A Museum of Design
2 days ago


Willmott Dixon puts housing repair division up for sale

The £143m turnover partnerships and energy services businesses employ nearly 1,400 staff
3 days ago

Betting Spy: More TV cash must mean lower ticket prices

Money is going into the wrong hands while Arsenal and Leicester can serve up a goal fest
2 days ago

London’s £400m Vauxhall Square scheme revised

Developer CLS still has no start date for 1.6m sq ft flagship Nine Elms scheme
3 days ago

ISG lands £12.4m refurb deal for former RBS office

Latest win is on the doorstep of ISG's head office as commercial work booms on city fringe
2 days ago

Brookfield Multiplex advises on London’s biggest PRS scheme

Perfume factory in Acton gets green light for 500 build to rent homes
3 days ago

Bowmer & Kirkland starts spec Slough office scheme

Work starts on 115,000sq ft Porter Building office HQ
3 days ago

Ardmore replaces Kier on Ram Quarter site

Ardmore to take over £170m first phase in April
3 days ago

Regional construction MD John Homer leaves Morgan Sindall

Homer is replaced by Morgan Sindall's perfect delivery director Rob Frank
3 days ago

Hanson Concrete fined £110,000 over dust pollution

Acton concrete works in West London fined after inadequate wheel washing and dust control
3 days ago

Contract award for £20m RAF runway refurb

Northern Irish duo win Welsh deal
3 days ago

Amey names next chief executive as Mel Ewell retires

Andy Milner, present managing director of Amey Consulting, takes over as group chief executive in March
3 days ago

Box & Charnock wins £11m M&E package

Work to start for St James this month on mixed-use job in Haringey
3 days ago

Kier quits £170m London Ram Brewery job

Third contractor in a week walks away from major project amid client deadlock over build costs
4 days ago

CITB to slash staffing levels to under 1,000

Skills body plans hundreds of job cuts as it fights for survival
4 days ago