Vistry Partnerships has secured a £128m contract from Legal & General Investment Management to build 480 homes at the former Homebase site in Wandsworth, SW18.
The five-building development, designed by Hawkins Brown, will also create more than 15,000 sq ft of mixed-use space, with retail, office and community uses.
The Homebase site is the third scheme to be delivered by Vistry for Legal & General, and the second in London, following developments in Walthamstow and Bristol.
Dan Batterton, head of residential for LGIM Real Assets, said: “We are delighted to be continuing the relationship already formed with Vistry Partnerships to deliver New Acres, South and look forward to the successful completion of the scheme in spring 2024.”
Construction work on the site started recently.
Stephen Teagle, chief executive of Vistry Partnerships, said: “The build-to-rent sector has a key role to play in combating the nation’s housing crisis, particularly in larger towns and cities, and Legal & General’s Wandsworth combined site will make a major contribution.”
The Vistry proposals will support Legal & General’s New Acres scheme, which will transform the former Homebase and B&Q sites. The sites are one of L&G’s five BTR schemes in London and will deliver more than 1,000 homes, 35% of which will be affordable, as well as more than 60,000 sq ft of commercial space.
Batterton added: “New Acres, Wandsworth, will be a flagship build-to-rent development in the UK. The scheme will be centred around lifestyle and resident satisfaction, higher standards of design, service and asset management, as well as operational efficiency and long-term sustainability.
“This is a significant urban regeneration project, delivering much-needed new homes and bringing brownfield sites back into effective use.
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
Click here to view market analytics for Wandsworth >>
