Specialist real estate investment, development and management firm Long Harbour has agreed to forward purchase a 370-home build-to-rent development from St George, part of the Berkeley Group, in Beaufort Park, a popular neighbourhood in Colindale, north-west London.
This acquisition is part of the Long Harbour Multi-Family Joint Venture 2 fund, with the Public Sector Pension Investment Board and Cadillac Fairview/Ontario Teachers’ Pension Plan.
The site forms the final phase of the wider Beaufort Park masterplan and construction is already underway with a phased handover scheduled for 2025-26.
Beaufort Park was once part of the RAF Hendon Aerodrome, and prior to that was one of the first civilian airfields.
Savills advised Long Harbour and CBRE advised St George.
James Aumonier, chief operating officer at Long Harbour, said: “This demonstrates our ongoing conviction in the UK multi-family sector and London as a global hub. BTR will be vital to the supply of housing for the next 10 years, and we continue to work with partners in delivering high-quality homes for rent.
Piers Clanford, chairman of St George, said: “At The Berkeley Group, we believe that regenerating brownfield land, like this former aerodrome site, is the most sustainable way to solve the housing crisis, strengthen local communities and re-energise our towns and cities.”
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