Boost to London housing from 1,000 homes built to rent

Housing Minister Brandon Lewis have welcomed two multi-million pound deals that will see over 1,000 new build-to-rent homes constructed in London.

The schemes comprise 636 homes at the Newfoundland Building in Canary Wharf and 400 homes at Ferry Lane, Walthamstow.

They are part the government’s Build to Rent initiative designed to accelerate housing provision and are funded with £150 million.

Housing and Planning Minister Brandon Lewis said:

“As a global city filled with opportunity and links to the rest of the world, there is a real demand for good quality homes available to rent on flexible terms in the capital.

“These two new deals will provide a big boost to housing and help meet the needs of tenants well into the future.”

The properties, comprising a mix of one, two and three-bedroom homes, will be completed in 2019.

To date over 5,800 homes have been contracted through Build to Rent with investment totalling £661 million, supporting the delivery of rented homes for tenants.