Ealing approves UK's largest build-to-rent project
A new build-to-rent project has been approved by Ealing Borough Council, reports Construction News. Almost 2,000 homes will be constructed as part of the scheme, along with retail and business units and a primary school.
Greystar Europe announced that it has received planning permission for the project, which - according to James Pargeter, director at Greystar Europe - is the largest consented build-to-rent project the UK has seen so far.
A total of £600 million is being put into the scheme, which will cover 8.2 hectares of space designed for a mixed-use development. Due to the huge size of the project and the various parts of the plans, Greystar has suggested that it may parcel up the work to more than one contractor.
Greystar is hoping to fast-track the project to allow for a quick delivery of the build-to-rent properties. It is hoping to begin enabling works and demolition of the buildings currently on the site within the next three to four months. Construction is due to begin before the end of the year.
Mr Pargeter told the news provider: "We want to build this out as fast as possible; we're looking at a construction programme of six years or so.
"That will bring some challenges around logistics and construction methodology."
He continued to say that this is the first Greystar project where the company has bought the site and led the design process. The company will also be overseeing construction to ensure the quality of the homes is high.
A total of seven apartment blocks will be constructed as part of the scheme, with five of these being designed specifically for the rental market. The other two will incorporate for-sale units, which will also include affordable housing options.
The project will deliver much needed rental properties in London to help meet with increasing demand throughout the capital.