Member Article

440-home build to rent scheme in Walthamstow given the go ahead

A mixed-use scheme devised by Legal & General in Walthamstow has taken another step closer to fruition after proposals were approved by Waltham Forest Council.

The 440-home, build to rent (BTR) development on the site of a former industrial estate in East London will now be passed on to the Greater London Authority for final approval.

Situated close to Blackhorse Road Station, the development will also comprise five gateway buildings along the Walthamstow Wetlands which the developers say will provide access to one of London’s ‘greatest natural habitats’.

Other amenities planned for the site include new cafes, a food store, communal work spaces, open landscaped areas and communal leisure spaces which are expected to create 100 long-term local jobs, on top of the 3,000 temporary roles anticipated over the course of the development.

Dan Batterton, Fund Manager BTR, at LGIM Real Assets, commented: “This decision puts us on track to deliver hundreds of new homes in East London, offering high quality yet attainable accommodation on a flexible basis to suit the lifestyles of modern renters.

“As part of our long-term commitment, we are also helping to open up access to the Walthamstow Wetlands for the benefit of residents and wider public.”

The development is part of Legal & General’s ongoing £15bn investment in UK infrastructure and urban regeneration and, along with two sites in Bristol and Salford, is being carried out as a joint venture between the group’s investment arm Legal & General Capital and Dutch pension fund PGGM.

“Across Legal & General’s Build to Rent platform we now have 900 homes under planning or in construction as part of plans to deliver 1000s more homes and re-establish what it means to rent in the UK,” added Batterton.