L&G acquires £500m Wandsworth build-to-rent scheme
May 15, 2019 – Legal & General has exchanged contracts on two adjacent sites in Wandsworth for its largest build-to-rent (BTR) development yet.
The £500m scheme has been acquired by the Legal & General BTR Fund, Legal & General Capital and Dutch pension fund PGGM.
The site will have around 1,000 homes for the private rented sector (PRS), including 35% designated affordable housing, and 85,000 sq ft of commercial space.
It brings Legal & General’s BTR pipeline to nearly 5,000 homes across the UK. Its first London BTR scheme, Blackhorse Mills in Walthamstow, will open in the autumn.
This latest scheme covers six acres and currently comprising home improvement stores next to Wandsworth Town train station. The development will include a new entrance to the platforms and will form part of the major regeneration of the local area.