Yahoo Finance Get Living to invest in creating hundreds of new rental homes in Lewisham
Get Living, the landlord behind the rental flats at the former London 2012 Athletes’ Village, is to invest in creating 649 homes in Lewisham for its next major project.
The build-to-rent firm will work with regeneration expert Muse Developments to create a scheme including the rental homes, shops, a gym, cinema and some office space.
The development will sit within the wider Lewisham Gateway regeneration scheme Muse is working on with other partners.
Opposite Lewisham station, the new planned homes mark Get Living’s third London scheme. The company, owned by a consortium of investors which include Qatari Diar and Dutch pension fund manager APG among others, also has sites in Stratford and Elephant and Castle.
Mike Auger, regional Director at Muse, said the latest deal “highlights investor confidence in our long-term vision - despite the unprecedented situation we all find ourselves”.
Rick de Blaby, chief executive of Get Living, said: “In these challenging times, we believe that build-to-rent is proving to be one of the most resilient real estate sectors, thanks in large part to its customer-first culture and its commitment to supporting community.”
Property investors have been increasingly ploughing money into the build-to-rent sector in the UK. More people, particularly in London where it can be very tough to get on the housing ladder, are looking to lease homes for longer.
Balfour Beatty has been appointed as the main contractor on the new development which is set to be complete in 2023.