Lendlease has agreed a £120m funding deal with its joint venture partner for a new build-to-rent (BTR) scheme at its Deptford Landings development in South East London.
The BTR business UNCLE, which is owned by Lendlease’s JV partner on the Deptford scheme Realstar, will deliver 251 apartments by 2024. Co-working spaces and a Peloton exercise studio will also be built, with the complex situated around a courtyard.
Established in 2017, UNCLE has so far delivered six BTR schemes across London and Manchester with a further five developments in the pipeline.
Ryan Prince, vice chairman of Realstar and founder of UNCLE, said: “From day one, our strategy has been to align ourselves with top-tier partners to help meet our aspiration to become the most well-regarded, well-known BTR brand in London. It goes without saying that Lendlease hits the bullseye.”
Lendlease’s Deptford Landings project director Colin Murphy said the new scheme would add to the private sale homes on the development.
Lendlease secured planning approval for the BTR flats in 2018. It has also built private sale flats on the site in Deptford, which was formerly known as The Timberyard.
Source : ConstructionNews