The London City Region development projects are valued at more than £250m and are anchored by private rental homes within a retail and leisure mix.
Richard Upton, Deputy CEO of U+I, said: “We are making good progress at each of these sites, all located within the London City Region ‘Huburbs’ and within an hour’s commute of central London.
“We have selected these sites very carefully. Each one is close to a train station, beautiful parks and located in quality towns where consistent rental and capital growth will be evident and each will remain relatively affordable for the wider population. That is important to U+I and helps mitigate risks in uncertain times.
“These 1,000 homes represent the first chapter in our unfolding rental story.”
The rental market is now valued at £1.29 trillion, and is expected to account for 22% of the UK’s housing market by 2025 as the demand for a high quality, value for money rental offer increases. U+I’s new schemes will provide a curated and bespoke offer tailored to the needs of ‘Generation Rent’.
Four projects in planning
In Ashford, U+I is bringing forward a development on a six acre site, owned by the Homes and Communities Agency, located opposite Ashford International train station.
The proposed project consists of 200 flats, a 120-bed hotel, an Aldi food store, a new brewery and visitor centre for beer maker, Chapel Down. Designed by Kent architect and interior designer, Guy Hollaway Architects, construction could start in early 2017.
An application will shortly be submitted for the second phase of the project to develop 300 mostly private rental flats. Designed by Guy Hollaway Architects, the development includes a 17-storey landmark building at its heart. featuring rooftop allotments.
In Swanley, U+I plans to extend and enhance Swanley Square shopping centre, including 340 homes and 50,000 sq ft of commercial space and a new car park. The Swanley town centre project is designed by HLM Architects.
In Woking, U+I has submitted a planning application to redevelop Elizabeth House, an empty 1980’s office into 241 new homes,with small retail and start up units at ground floor level. The scheme designed by build to rent architect RTKL will also provide affordable workspace.