Barking & Dagenham Council has approved EcoWorld’s plans for 514 build-to-rent apartments in phase two of Barking Wharf in east London.
The development will comprise five towers of between nine and 23 storeys on the site of the Tesco car park on Highbridge Road.
The proposals include 51 discount market rent homes, equating to 10% affordable housing.
Phase two brings the total homes at Barking Wharf to 1,111.
The first homes have been acquired by Invesco as part of a £400m deal split over Barking and Kew Bridge. Finance for the second phase has yet to be secured.
The Malaysian developer acquired the site as part of a £1.1bn portfolio in the first stage of its tie-up with Willmott Dixon.
This saw EcoWorld add six development sites to its three existing projects in London. Stage two will see it add a further six sites with a GDV of £1.5bn.
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