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

Aaron Morby 2 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

Laing O’Rourke completes first HS2 bridge in two days

65-metre structure built off-site and installed ahead of schedule
1 hour ago

A66 TransPennine upgrade to be split into four jobs

Design and build projects to total £770m along 50-mile route
28 mins ago

Welsh Water civils and M&E frameworks up for renewal

Water company seeks to refresh partners for AMP7 investment plan
1 hour ago

Crane drivers face heat risk in “greenhouse” cabs

Union demands maximum three-hour shifts for drivers, free water and mini fridges in cabs
3 days ago

Willmott Dixon wins £54m Manchester creative complex

Major boost to city's media, creative and digital industries
1 hour ago

£100m Leeds student tower approved

Planning go-ahead for 32-storey Merrion Street skyscraper
3 days ago

Redrow pulls out of 1,100 home Wandsworth estate scheme

Construction started in February on first phase of Alton Estate regeneration
4 days ago

Supply chain event for £4.5bn Smart motorways plan

Subcontractor engagement launch event to set out new working arrangements
3 days ago

Construction Manager of the Year finalists revealed

Sixty of the country's best construction managers make the cut: Full list
4 days ago

McAlpine to kickstart £650m Nottingham Island Quarter

Construction to start on £9m first phase of giant scheme in October
4 days ago

Four injured during roof collapse in Windsor

Firefighters rescue workers from rubble after collapse
3 days ago

Groundworks boss banned for false tax returns

Insolvency Service investigates after contractor goes into liquidation
4 days ago

Buyers report robust construction recovery in July

Strongest rise in output for nearly five years
4 days ago

Planning revolution to open housing market to smaller builders

Planning to be revamped in bid to end dominance of major housebuilders
4 days ago

Nmcn still in profit despite Covid-19 crisis

Pandemic to cut margins to 0.5% this year but contractor confident in long term prospects
4 days ago

Shed builder Winvic hails £29m rail freight terminal win

Vast concrete pour to start in weeks on 30,000m3 terminal storage slab
5 days ago

Ibstock to shut three brick factories and axe 375 jobs

Brickmaker on cost-cutting push after £52m first-half loss
4 days ago

Hackitt slams industry’s ‘wait and see’ stance on building safety

Mace, Vistry and Construction Leadership Council praised for rising to safety challenge
4 days ago

Kier wins £160m Area 4 highways upkeep deal

Maintenance work to start in November on Kent and Sussex roads
5 days ago

25 demolition firms win places on Scottish framework

Demolition framework for Scottish council and housing associations
5 days ago

Amey clinches £240m deal to upkeep three major bridges

South west major structures inspection and maintenance worth £16m a year
5 days ago

Aecom to cut up to 500 jobs

Consultant starts redundancy consultation as it "re-shapes" the business
5 days ago

Squibb lands demolition deal on £220m Woolwich site

Year-long demolition of old Woolwich estate starts this month
5 days ago

Vinci replaces Galliford Try on £26m cancer centre

Demolition work completed by Galliford Try but client brings in new contractor
6 days ago

Morgan Sindall confident of second half profit surge

Post lockdown recovery continues as £9.3m of furlough cash to be handed back to government
5 days ago

M&E specialist Lorne Stewart battles to stem losses

Harrow-based building services specialist begins to curb losses
5 days ago

Worker crushed to death on Tottenham demolition site

Wall and roof collapses at two-storey industrial building
5 days ago

Countryside picked for £124m Bracknell housing plan

Over 400 homes to be built on three council-owned sites in town centre
5 days ago

Balfour to reopen concrete plant after Covid outbreak

Track and trace investigations show no-one affected at Hinkley where segments are supplied
6 days ago

Robertson lands Preston research centre contract

University of Sheffield picks main contractor for £20m scheme
6 days ago

Contractor services