Legal & General’s suburban build-to-rent arm – L&G Suburban BTR – and Cala Homes have agreed an exchange of 107 homes at Buckler’s Park in Crowthorne, Berkshire.
The transaction is the first forward-funding transaction between L&G Suburban BTR and homebuilder Cala, which are both owned by L&G Capital.
The 107 homes will be constructed to new Part L standards and are expected to complete in 2025. The exchanged site includes electric vehicle charging points and air source heat pumps.
The wider Buckler’s Park 1,000-home masterplan, led by Cala’s Thames business, will include a community and sports hall, nursery, café, flexible meeting spaces and a primary school.
David Reid, managing director at L&G SBTR, said: “Demand for new homes remains high across the country, so it is vital to keep investing in, and developing, multi-tenure offerings to suit the diverse needs of housing customers.
“At L&G SBTR, we aim to deliver the high-quality housing stock with reliable customer service needed to meet this demand, and we are thrilled to be collaborating with Cala Homes on the Buckler’s Park site in Crowthorne.”
John Richards, land and planning director at Cala Homes’ Thames, said: “Buckler’s Park is an excellent example of brownfield regeneration – we’re meeting local needs by building a range of high-quality dwellings, from one-bedroom apartments up to five-bedroom homes, and now L&G SBTR is delivering homes for rent, too.”
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