Partners ready to go on £110m Woking BTR

Zetland Capital and Donard Real Estate are looking to forward fund a £110m build-to-rent development in Woking, Surrey. Crown Gardens will deliver 272 homes, including 28 affordable apartments as well as ground-floor commercial space and public realm improvements. The scheme was given planning permission by Woking Borough Council’s planning committee on 7 January 2025. The developer, Donard Real Estate, is expected to commence demolition works and achieve Build Safety Act Gateway Approval in Q1 2025, with the development estimated to complete in 2028. Steven Flannery, chief executive at Donard Real Estate, said: “The approval of Crown Gardens represents a pivotal moment towards the regeneration of and further investment in Woking. Over the past couple of years, we have dedicated ourselves to crafting a high-quality scheme in collaboration with the local community that promises long term benefits for Woking. We are delighted that the Woking planning committee has recognised our efforts and with this milestone achieved, we will be eager to commence work on site at the earliest opportunity.” Jonathan Stevenson, head of BTR forward funding at Knight Frank, added: “This scheme in the prominent commuter town of Woking ticks all the boxes for institutional investors – a market-leading mix of units, an investor-friendly tenure model, and impressive ESG credentials. The design has been meticulously crafted for today’s rental market, with an ideal quantum of units and attractive pricing points. We expect strong interest from institutional capital sources seeking high-quality, professionally managed rental stock.”