Telford Homes increases focus on build to rent
Build to rent is the future of housing in London, says developer Telford Homes in the latest trading update.
The proportion of Londoners renting is rising and will continue to do so with customers increasingly turning to a rental model, not just due to affordability, but more as a lifestyle choice looking for greater flexibility. The purpose built rental housing creates better amenities, improved on-site service and secure tenancies. It is the ideal product for new generations wanting to live in London.
The developer anticipates changing at least three of their existing sites from individual sale into build to rent. Over half of their development pipeline will be made up of schemes that comprise a combination of build to rent homes and subsidised affordable housing before the end of 2019.
The strategy has been underpinned recently by the sale of Equipment Works in Walthamstow to a joint venture between Greystar and Henderson Park for £105.5 million.
In addition, Telford Homes will enter a full build contract with Greystar to deliver nearly 900 homes in Nine Elms within the next three months.
