Telford Homes has exchanged contracts for the sale of The Pavilions, Caledonian Road, N1, to housing association L&Q.
Of the 156 homes being sold, 96 will part of L&Q’s newly launched private rented sector portfolio, while the remaining 60 will be held for affordable housing.
The price for the entire development is £66.75m, with regular payments to be made by L&Q throughout the construction period.
Construction is already underway and expected to complete mid-2018.
Jon Di-Stefano, chief executive of Telford Homes, commented: “The strong level of interest shown in The Pavilions by PRS investors confirms the potential of the PRS market anticipated at the time of our equity placing in November 2015.”
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