Redrow and Realstar have agreed build to rent (BTR) deals at two separate London sites, delivering more than 500 homes for London renters.
The transactions have a combined GDV of £183.5 million and will see Redrow deliver 513 new rental homes in Southall and Colindale which will be professionally managed under the UNCLE brand.
The deals will provide a welcome boost to the number of build to rent homes available in London and bring Redrow London’s BTR deals in the Capital up to four, whilst Realstar have agreed twelve in the UK since it entered the sector.
As part of the transactions, UNCLE will acquire 347 new homes at the flagship development Colindale Gardens in Colindale, North London.
The £119.5 million PRS deal, the largest for Redrow to date, will fund the delivery of studio, one, two and three-bedroom professionally managed, build to rent homes which will be available next year. The announcement follows the £82.7m deal Redrow announced with M&G Real Estate last year which brought a further 186 new rental homes to Colindale Gardens as well as 211 homes sold to L&Q in 2016.
Located in the Burnt Oak and Colindale Opportunity area, Colindale Gardens is a £1.2 billion award winning new community, which is being created by Redrow on the site of the former Peel Centre Metropolitan Police training college. More than 2,900 new homes will be delivered over the next ten years.
An additional £64 million deal in Southall will see Redrow deliver 166 one, two- and three-bedroom apartments, all of which will benefit from a wellness space, gym, parking, co-working area and lounge, and will be professionally-managed under the UNCLE brand. The site sits adjacent to the existing scheme The West Works, where we are currently delivering 302 new homes as part of a mixed-use scheme.
The Southall build to rent apartments are anticipated to be available from summer 2020 and form part of an overarching vision to provide new homes and amenities in Southall. As a designated Opportunity Area in the London Plan, Southall is undergoing significant inward investment, which will see the provision of at least 6,000 new homes on previously industrial land and the creation of 3,000 new jobs.
Mark Parker, Managing Director of our London division, commented: “We are thrilled to announce this substantial commitment to delivering high quality rental homes in London. These build to rent deals signal yet another exciting opportunity for Redrow and our customers as we strive to create sustainable communities with a variety of homes for all needs. Both Colindale and Southall are quickly defining themselves as new property hotspots as they undergo significant inward investment. We are expecting strong interest for these new rental homes as our sales teams in these locations are seeing a growing number of enquiries from young professionals here.”
Ryan Prince, CEO and Founder of UNCLE, said: “UNCLE’s strategy is to grow and become a dominant player in the London rental market with assets located throughout the city - North, South, East & West. Given the current conversation around housing in the Capital, we’re confident that there will be continued interest and opportunities around London, as people continue to explore new neighbourhoods across this vibrant city.
“At UNCLE, we believe that lots of small things can add up to a big difference – the resident manager who knows your name, never having to worry about your packages getting lost, not worrying about that leaky tap. We’re confident that if we take care of you, together we’ll build the neighbourhood we all want: a safe and happy place where neighbours say hello in the lift, offer a hand with the groceries and are happy to come home.”
“Our aim is to become consumers’ first choice for a place to live if they’re a renter. In order to do this, the company aims to have multiple locations and varying price points in every city in which it operates. Our £120m commitment at Colindale is a meaningful step in achieving this goal.”
23/09/2019 14:20 by Buildington
A selection of 3-bedroom townhouses at Colindale Gardens available with Help to Buy are launching on 14th September 2019.
Prices start from £599,950.
Visit colindalegardens.co.uk to register your interest with Redrow.
06/09/2019 16:51 by Buildington
New i.d Interiors has designed a townhouse at Redrow’s Colindale Gardens development.
The modern home has been designed to incorporate luxurious touches and references to the surrounding greenery through a colour palette of olive and teal.
The townhouses at Colindale Gardens offer ample, well planned space ideally suited to modern family life, which is reflected throughout the interior design. The open plan kitchen has been designed with a large dining table to cater for the whole family. Maintaining a homely feel was always a priority, so the design is complete with contemporary ‘homely touches’ throughout, including a display of cookbooks which brings the space to life and encourages families to make the most of the generous kitchen space.
Simon Halfhide, Sales Director at Colindale Gardens, commented: “Colindale Gardens, with over nine acres of parkland, playgrounds, a three-form school and onsite shops, offers families the ideal place to call home.
“The townhouse effectively encapsulates the Colindale Gardens development – ideal for families, but certainly not exclusive to them. It radiates modernity and is a welcoming space with a luxurious undertone. Although the development has fantastic links to central London, Colindale is accurately viewed as a leafy suburb and I am pleased to see this reflected throughout the show home.
“We are extremely pleased to have worked with local interior designers, New i.d Interiors, who are experts on the area and has reflected all that the development represents within the design.”
Victoria Kember, interior designer at New i.d Interiors, added: "The brief for this property was to create modern, luxurious home suitable for both families and young professionals. I wanted to create something pared back with a punch of vibrant colour, so with Living Coral Pantone's colour of 2019, this was an immediate starting point when creating the interior.
"For us, it was important that this house had a 'wow' factor as soon as you enter it and we combined coral with teal and olive tones to ground the space."
Prices for a one-bedroom apartment at Colindale Gardens start from £385,000.
For further information, please contact Redrow or visit www.colindalegardens.com.
05/06/2019 09:31 by Buildington
Jasmin House has just launched at Colindale Gardens. Studios, 1, 2 and 3 bedroom apartments for sale. Prices starting from £335,000.
Help to Buy is available.
Visit colindalegardens.com to register your interest.
20/01/2019 09:01 by Buildington
4 bedroom duplex show apartment launching on Saturday 20th October 2018.
Prices from £385,000.
Contact Redrow to register your interest.
16/10/2018 13:06 by Buildington
The Family Quarter, the latest phase at Colindale Gardens, is launching this Saturday 27th January 2018, reported Metro on Tuesday.
This collection comprises 74 1-3 bedroom apartments and 3-4 bedroom townhouses.
Prices start from £375,000.
Via Metro.co.uk 23.01.2018
25/01/2018 12:42 by Buildington
The Orchard Quarter, the final release at Colindale Gardens, is launching this weekend!
Studios, 1, 2 and 3 bedroom apartments and duplex apartments.
First completions Summer/Autumn 2019.
One bedroom apartment prices start from £395,000.
06/09/2017 10:34 by Buildington
The Park Collection at Colindale Gardens is launching 14th January 2017!
The Park Collection is the latest release of homes at Colindale Gardens. There are studios, 1, 2 and 3 bedroom apartments, and 2, 3 and 4 bedroom Park Walk townhouses.
The Park Collection’s central location also makes it the hub for the key amenities at Colindale Gardens, such as the gym and concierge service.
For availability and sales contact Redrow.
22/12/2016 17:19 by Buildington
New release at Colindale Gardens launching tomorrow 17th September 2016!
New buildings Lasson House and Newington House offer 1,2 and 3 bedroom apartments and 3 bedroom townhouses with private outdoor space for sale.
1-bedroom apartments from £345,000
2-bedroom apartments from £430,000
3-bedroom apartments from £580,000
3-bedroom Park Walk Townhouses from £660,000
Source: Ad in Homes & Property, Evening Standard 14.09.2016
16/09/2016 12:12 by Buildington
New release at Colindale Gardens is launching 17th September 2016!
08/09/2016 13:54 by Buildington
Colindale Gardens is launching on 16th April 2016!
24/03/2016 09:02 by Buildington
Guide prices at Colindale Gardens revealed:
1-bedroom apartment from £335,000
2-bedroom apartment £430,000
3-bedroom apartment from £530,000
Source: Homes & Property @ Evening Standard 16.03.2013
18/03/2016 09:51 by Buildington
Colindale Gardens development is launching in Spring 2016! Please register with Redrow today!
29/02/2016 16:21 by Buildington
Colindale Gardens in Colindale, London NW9 - new on Buildington!
19/02/2016 09:43 by Buildington