Inland Homes is set to receive a slice of funding under the government’s Build To Rent scheme to develop 123 private rented flats in West Drayton, Middlesex.
The group has received a £8.7m repayable loan. Work is expected to start on site in July.
The homes will be built as part of the wider Drayton Garden Village development, which includes a total of 773 new homes, a nursing home and commercial space.
Housing minister Kris Hopkins said: “This is the fourth site to receive Build to Rent funding in the capital, offering greater choice for Londoners looking to rent on fair and flexible terms.”
Stephen Wicks, chief executive at Inland Homes added: “We are confident that by applying Inland’s expertise in planning and development can help to shape local communities and stimulate new private housing supply, which in turn will attract new institutional investment into the private rental sector.”
Deputy mayor for housing, land and property, Richard Blakeway, said: “London faces an unprecedented demand for new homes, with a soaring population and following a historic 30 year failure to build enough. By improving the offer of new, good quality, well-designed homes to rent, we can rebalance the capital’s rental market, improve services for tenants and boost the local economy as well as providing the new homes that hardworking Londoners so desperately need.”
