Willmott Dixon seals its biggest PRS housing deal

Aaron Morby 7 years ago
Share

Willmott Dixon’s private rental company be:here has taken its pipeline of PRS homes in London to over 1,300 after agreeing a deal with Estates & Agency Group to develop 650 homes in Barking.

be:here has agreed to acquire 3.88 acres of the 9 acre Abbey Retail Park site from Estates & Agency Group to develop and manage the purpose built private rented homes, subject to obtaining the relevant planning consent.

The site is located in the heart of Barking on Abbey Road, situated a short walk to Barking’s mainline and London Underground station.

Estates & Agency Group received planning consent last year to develop a new Sainsbury’s store on the rest of the site, with demolition works on the new store set to start next month.

This latest deal for be:here comes as the first of its 158 purpose-built homes in East India are about to become available for private renters at the Aberfeldy Village development, with over 500 registrations of interest already.

Construction at be:here’s development of 132 homes at the Old Vinyl Factory in Hayes is now well underway and will be complete next Spring, while at Kew Bridge the company has over 330 units at the Brentford FC stadium masterplan, which will be one of the biggest simultaneous developments of homes for sale and private rent in London when construction starts next year.

Andrew Telfer, chief executive of Willmott Dixon’s development division, said, “Barking is a key milestone in be:here’s plans to create vibrant rental communities at scale across London and other major cities.

“What’s unique for us is that we will be the long-term operator of the apartments first and foremost, so our presence over many years means we have a keen interest in the success and growth of the wider community in central Barking.”

John Rosefield, Estates & Agency Group Chairman, said “The agreement with be:here is the next stage of realising the vision for the site’s regeneration. Over the next few years there will be transformational change in this area of Barking, creating hundreds of new homes and jobs. Barking is a great place to invest and Estates & Agency Group is delighted to continue to be playing our part in the town’s ongoing regeneration.”

Iceni Projects is lead consultant on the project, supported by Broadway Malyan, architects, and i2 as development managers.

Work will now start on a planning application, with the aim to be on site early in 2016. It is anticipated that the first homes will be available to rent in 2018.

Latest news

WSP to buy consultant RPS Group for £591m

5,000 staff at Oxfordshire based firm to join WSP
51 mins ago

M&E specialist Spie UK arm returns to profit

French parent group launches a strategic review of UK operations after performance stabilises
34 mins ago

Site boss fined for locking out safety inspectors

Police called to enter site before fire fighters rescue workers stranded on roof
25 mins ago

Plans in for 600 homes at London Aylesbury estate

Notting Hill Genesis aims to start work next year on phase 2 of Southwark estate rebuild
34 mins ago

Tide gets green light for UK’s tallest modular tower

Volumetric specialist to build 48-storey student skyscraper at Canary Wharf
2 days ago

TopHat cuts losses and aims for profit in three years

Modular specialist investing for future as latest results show £19.4m loss
23 hours ago

Story Contracting names next chief executive

Andy Joy to be promoted to CEO as Jason Butterwork becomes vice chairman
22 hours ago

Stalled £100m North London build-to-rent tower to start

Essential Living commits to start Swiss Cottage scheme six years after planning OK'd
1 day ago

Bidding starts for Pagabo £1bn medium works deal

Extra small project lot added in framework renewal
24 hours ago

Vital funding deal for £50m A38 Midlands upgrade

Work could start early next year on A38 BREP now out to tender
23 hours ago

Graham wins £16m National Railway Museum job

Firm seals pre-construction deal as new museum Central Hall gets planning green light
24 hours ago

Demolition starts on half-built £48m Taylor Wimpey flats

Furious local residents blast house builder over "unbearable" noise
4 days ago

Civils contractor fined £600k after boy dies in drainage pipe

Workers find seven-year-old who suffocated on housing site
5 days ago

Plan for trio of towers at old Yorkshire Post site

Galliford Try advises on construction plan for Leeds student and build to rent towers
4 days ago

Insolvency to rival inflation as project cost threat

Inflationary pressures likely to peak this year before easing in 2023, but supply chain stress is growing.
4 days ago

B+K starts £300m Sheffield West Bar scheme

Funding deal triggers start on major mixed-use scheme
4 days ago

Willmott Dixon bags £44m Passivhaus leisure centre

Private builder prepares to start Staines-upon-Thames complex
4 days ago

Go-ahead for £160m Cambridge mixed-use scheme

Devonshire Gardens will consist of 70 private rental flats and 120,000 sq ft of offices
4 days ago

Construction buyers report first drop in output for 18 months

Civil engineering worst performing sector
5 days ago

Construction and infra margins hit 3.2% at Morgan Sindall

Contractor picking deals carefully as inflation continues to bite
5 days ago

Morrisroe Group revenue tops £200m

Pre-tax profit halves to £2.7m as cost inflation bites
5 days ago

Kier to start new £400m ‘smart’ prison this autumn

At least 50 ex-offenders will help build new HMP Full Sutton
6 days ago

Former P&R Morson staff to launch legal claim

Former staff of failed Midlands M&E specialist consult with lawyers following administration
5 days ago

Eight firms win big north west MMC housing deal

JV North consortium plans to build 4,000 homes by 2026
5 days ago

Balfour to replace Ringway Jacobs on £176m Bucks highways deal

Balfour to start new eight-year maintenance contract in 2023
5 days ago

O’Keefe suppliers owed £13m despite Byrne rescue

Unsecured creditors to get less than 2p in the pound for their debts
7 days ago

Taylor Wimpey staff to get £1,000 towards fuel bills

All staff earning below £70,000 will receive a one-off payment
6 days ago

Equans bags Birmingham 300 council homes retrofit pilot

Council homes retrofit trial will test way for ambitious 60,000 homes decarbonisation plan
6 days ago

Van Elle returns to profit after £125m record revenue

Piling contractor restores dividend after work rebound delivers £3.6m profit
6 days ago

Race for places on £2bn housing decarbonising deal

South west central procurement body starts race for places
6 days ago

Contractor services