1000 new homes to rent are now going to be available in London under the Build to Rent fund.
DCLG writes:
Three multi-million pound deals will provide over 1,000 new homes specifically for private rent in London, Housing Minister Brandon Lewis announced yesterday (10 June 2015) at the London Real Estate Forum. The homes will be built in some of the capital’s most sought-after locations – including the newest neighbourhood in Stratford’s Olympic Village site.
Mr Lewis said the completion of these 3 deals will provide good quality rented homes for tenants ‘well into the future’. The £1 billion Build to Rent fund is designed to help developers produce large scale, quality homes, specifically for the private rented sector.
Yesterday’s latest agreements will mean £252 million is invested in building 1,353 homes across key sites in London. These include:
- 903 homes for rent at Stratford’s Olympic Village
- 278 homes for rent at Newington Butts in Southwark
- 172 homes for rent across sites in Hammersmith, Westminster and West Kensington
Work on the homes will start straight away, and be completed in 2017 and 2018. Each site will include a mix of 1, 2 and 3-bedroom properties, all located closely to underground stations.
