£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

Balfour Beatty fined £2.6m after fatal trench collapse

Court imposes huge fine after worker crushed to death on Lancashire site
13 hours ago

Waste energy plant delays hit Interserve for £70m

Problems on Glasgow project blow a hole in construction division finances
35 mins ago

Barhale bags major role on £300m water deal

Work will involve construction of a 25km long pipeline
54 mins ago

Laing O’Rourke lands £76m resi tower

Contractor wins third major deal at Imperial College's White City Campus
18 hours ago

Betting Spy: Arsenal can beat a wobbly Man City

The season is nearly over and City look on a downward spiral
8 hours ago

Cost of Saatchi building revamp rises by £29m

Redeveloping West London site will now cost Derwent £236m
23 hours ago

Keltbray sees turnover soar 25% to £272m

Profits also up as margins hit 4.3% and employee numbers break the 1,000 barrier
18 hours ago

Enquirer launches construction awards with online voting

Industry to choose best companies to work for and do business with: Full details
24 hours ago

Costain and O’Rourke trial new concrete strength tests

Thermal imaging tests on sprayed concrete tunnel linings could make sites safer
24 hours ago

Blacklist trial pushed back as new evidence emerges

High Court hearing will now start in June for 90 victims represented by Unite
23 hours ago

Construction buyers report loss of momentum

Markit/CIPS index shows lowest growth rate for three years
2 days ago

Costs rise to £180m at Watford shopping centre

Laing O'Rourke to start work after BAM failed to agree price
2 days ago

Worker crushed by excavator on Stafford site

Victim airlifted to hospital after accident in the West Midlands
2 days ago

Willmott Dixon merges resi divisions

Former Berkeley finance director to head-up major expansion in housing market
3 days ago

Contractors asked what they really think of architects

Major new online survey by RIBA to gauge opinions: Take part now
2 days ago

Plans go in for £75m Wembley office to resi conversion

Construction due to start this autumn on former home of civil engineer
2 days ago

Problem contracts cause construction loss at McLaren

Strong property performance leads to group profit as chairman bullish about construction prospects
3 days ago

Kier launches new model to build 10,000 homes

New Communities Partnership will help develop local authority land
3 days ago

Coleman and Company taken off Didcot recovery

Contractor "disappointed" at decision to bring in another firm to recover bodies of victims
5 days ago

Edinburgh school repair work to last until August

Repairing defects in 17 closed Scottish school to take months
3 days ago

Contractor services