TfL seeks partner to construct 3,000 build to rent homes

Aaron Morby 4 years ago
Share

Transport for London will shortly launch its search for a partner to create a build to rent joint venture to help deliver homes on some of London’s most well-connected sites

Together the land has potential to deliver in excess of 3,000 homes, with a minimum of 40% affordable on all new planning consents.

Using a build to rent approach will allow TfL to deliver homes more quickly while retaining a long term interest in the future development of its significant property estate and delivering a steady income stream.

Graeme Craig, Director of Commercial Development at Transport for London, said: “Making this significant move into the build to rent sector has huge benefits for TfL and London as a whole.

“We want to help meet London’s critical need by building thousands of homes at pace, including high levels of affordable homes. We also want to create a legacy of high-quality homes across London that will create sustainable long-term revenue for TfL.

“Built to Rent allows us to achieve both these aims – and we will looking for a partner who shares our ambition to create the most important property portfolio in London.”

TfL has plans in place to build over 10,000 homes on its own portfolio across London. Since May 2016, half of all homes that TfL has brought forward are affordable.

Sites are being brought to market through a number of different routes including through its Property Partnership Framework, the GLA’s ‘London Development Panel’, as well in partnership with neighbouring landowners and through the GLA’s ‘Small Sites, Small Builders’ programme.

In many areas, TfL sites will play a key role in unlocking development and regeneration opening up new spaces, creating jobs and stimulating economic growth.

The opportunity to submit an Expression of Interest will be available from 24 September and companies should contact Savills for more information.

Latest news

Leisure centre legal battle ends 15 years after handover

Allenbuild ordered to pay £2.2m to Sefton Council over defective swimming pool
1 day ago

Morgan Sindall Highways chief departs

Paul Gott exits after 15 years at Morgan Sindall Infrastructure
10 hours ago

Balfour Beatty calls on supply chain to sign-up to Code of Ethics

Code of Ethics will eventually form part of Balfour Beatty contracts and supplier frameworks
10 hours ago

Tolent suffers £4.3m loss after High Street Group collapse hit

Gateshead builder says it returned to profit this year and is eyeing a £1bn work pipeline
9 hours ago

Persimmon build rates fall amid material and labour shortages

Planning delays also hit house builder as completions drop on last year
9 hours ago

Thirty construction workers killed on site last year

Industry fatality numbers drop 25% on previous year
19 hours ago

Construction and housing ministers resign

Industry leaders join mass exodus from government
24 hours ago

Aecom hires Arcadis veteran to grow northwards

Jonathan Moore aims to expand Aecom's business in the Midlands and North
23 hours ago

M&E contractor Kershaw went down owing subbies £10m

More than 400 firms left holding unpaid invoices
1 day ago

Green light for UK’s first plastic recycling park

£165m park in Cheshire will recycle 367,500 tonnes of plastic
1 day ago

Go-ahead for two Tilbury Douglas hospital jobs

Wirrall and Stockport hospital A&E jobs together worth nearly £60m
1 day ago

Nine contractors trailblaze concrete carbon reduction plan

Firms pledge to switch to 30% low emission concrete by 2025
2 days ago

Red Construction lands London Victoria office overhaul

St James's Park building will be extended up by two floors in overhaul
1 day ago

Six locations shortlisted for Great British Railways HQ

Site for national HQ narrows to Birmingham, Crewe, Derby, Doncaster, Newcastle and York
2 days ago

Kit maker Genie fined after M25 work platform death fall

Court hears how calibration error led to death of worker when 40 metre high mobile elevating work platform collapsed
2 days ago

O’Connor Utilities sold to private equity

OCU Group reported to have fetched around £400m
3 days ago

Rolls-Royce shortlists sites for first SMR factory

Three factories will make reactor, civils and MEP modules for SMR nuclear power stations
2 days ago

£233m loan kick starts £3.5bn regen of Royal Docks site

Infrastructure loan paves way for 6,000-home East London Silvertown scheme
2 days ago

Henry Construction wins £33m Oxford housing estate rebuild

Contractor signs off first deal with A2Dominion
2 days ago

Carillion collapse hospital hit by more construction delays

Balfour will take another 18 months to complete Midland Met scheme
3 days ago

Leeds college launches new construction and football course

Students can now combine site and tech skills with learning at a football academy
2 days ago

Willmott Dixon blasts new Building Safety law

Rick Willmott accuses Government of scapegoating construction over its own regulatory failure
3 days ago

£550m plan to redevelop The Galleries centre in Bristol

Shopping centre building to be demolished for major mixed-use scheme
3 days ago

Costain cancels supply chain event on £260m road job

Preparation work for A1 upgrade stalls as Transport Secretary dithers over approval
3 days ago

£170m London Holborn Circus office approved

Demolition work set to start in the autumn for 10-storey office block
3 days ago

City leaders launch net zero construction skills drive

City of London leader warns "skills gap and labour shortage are threats to our net zero ambitions"
3 days ago

Marlborough Highways lands £32m Islington civils deal

Contractor to help with north London borough's green drive
3 days ago

Osborne makes £45m construction loss

Sale of infrastructure business balances books as contractor looks for zero-carbon wins
6 days ago

John F Hunt forecasts record revenue and profits this year

Demolition contractor back on strong financial footing after previously setting aside £5.6m for bid rigging probe
6 days ago

Notting Hill Genesis names £2.8bn framework winners

26 firms land places on main contractor deal: Full list
6 days ago

Contractor services