Investment group appoints contractor in £120m deal
Legal & General has appointed Galliford Try as the contractor on its Blackhorse Mills build-to-rent (BTR) scheme in north London in a deal worth £120m.
Galliford Try will build 440 new studio, one, two and three-bedroom homes on the site, which overlooks the Walthamstow Wetlands and is close to Blackhorse Road underground station. Architect on the scheme is Assael.
Describing the area as “hugely vibrant and rapidly growing”, BTR fund manager at L&G Investment Management Dan Batterton said it needed new quality housing.
“Waltham Forest Council has been a very supportive forward thinking partner and it is only through this joined up, progressive approach that we are able to make such a large investment into the Blackhorse Lane community, supporting residents and businesses.
“For too long renters have found themselves at the mercy of expensive moving fees, unresponsive managers, and private landlords who often want to minimise upkeep costs and maximise rents.”
In May, L&G announced the purchase of a site in Leeds, Mustard Wharf, for BTR housing, while its total investment capability for the rental sector stands at around £1bn.