£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

Lendlease to start £275m Hammersmith scheme

Construction to start next month on major office project
9 hours ago

Contractors call for calm as Brexit victory spooks markets

Construction fears over costs, skills and investment as house builder shares crash
13 hours ago

Cameron resigns as exit vote sends markets crashing

New Prime Minister to be elected by October
12 hours ago

Shepherd Group suffers £74m hit from sold building arm

Strong profits at remaining Portakabin business help to cut group loss to £28m
13 hours ago

Bidding set to start on £2bn East London cultural quarter

London Legacy Development Corporation set to procure shell and core work
13 hours ago

Building worker critical after being crushed by JCB

Digger at Hebburn housing site believed to have reversed into worker
12 hours ago

Plant test cheats website dodges closure threat

CITB chiefs battling to close down site undermining tests for machinery drivers
1 day ago

Green light for £18m Midland Metro extension

Preparatory utility diversion works to start immediately
1 day ago

Hill wins approval for £100m east London housing scheme

Work to start on Walthamstow triple towers this autumn
1 day ago

Construction workers win inflation busting pay rise

Deal agreed but unions warn pay agreement is "no longer fit for purpose"
2 days ago

Betting Spy: Roy’s luck set to run out against France

Quarter Finals could be our Waterloo while Croatia are an attractive price to see off Portugal
1 day ago

Costain to use more drones to make sites safer

Unmanned aerial vehicles can take on hazardous tasks
2 days ago

Bowmer & Kirkland profit jumps by almost half

Derbyshire private builder lifts profit to nearly £40m
2 days ago

Plans for £250m Liverpool resi towers trio

Liverpool developer Elliot plans cluster of 34-storey towers
2 days ago

Specialist wins low road tender court hearing

Judge rules against public client who rejected "abnormally low" bid from FP McCann and Balfour Beatty
2 days ago

Yorkshire plumbing contractor sinks

More than 100 jobs cut after firm fails to reach agreement with HMRC over tax arrears
2 days ago

Bid race starts for £20m Luton science block

University of Bedfordshire will appoint a contractor in September
2 days ago

Wates wants to meet local suppliers

Meet the Buyer event for local firms to be held on the WIrral: Register now
2 days ago

“Pop up” rail depot sends aggies to North West sites

Temporary plant saves thousands of HGV journeys across region
2 days ago

Morgan Sindall reopens Kent precast plant

Plant remobilises after big order for Tube Northern Line Extension tunnel extension rings
2 days ago

Wolverhampton Uni plans to invite bids for £20m project

Construction of School of Architecture and Built Environment to start in March
2 days ago

Willmott Dixon profits plunge 39%

Willmott Dixon expects residential business to drive profit growth in years ahead
3 days ago

Brexit could raise construction costs by 15%

Galliard Homes fears huge increases in materials and labour prices
3 days ago

Yobs hurl rocks from Dover cliffs at Costain workers

Rocks missed site workers by inches on railway rebuild job
3 days ago

BAM Nuttall bounces back into the black

Contractor turns an £18m profit after £18m loss in 2014
3 days ago

£100m Bristol Parkway office block approved

New HQ building proposal gets green light
3 days ago

National M&E contractor EIC in administration

More than 1,000 workers hit by collapse
4 days ago

Plans in for second New Bailey office in Salford

Work expected to start early next year on next phase
3 days ago

Mace gets green light for Oxford shopping centre

Mace aims to start on West Way Place site early next year
3 days ago

Opinion: Time for top construction firms to step forward

Don't hide your light under a hard hat: Enter the Construction Enquirer Awards now
4 days ago