Housebuilder Redrow and housing association Peabody have confirmed a £50m build-to-rent deal at Pontoon Reach in the Royal Docks, E16.
The deal, which was secured with funds managed by Pictet Alternative Advisors in joint venture with Pinnacle Investments, will fund the delivery of 131 BTR homes in London’s only enterprise zone.
The BTR flats at Pontoon Reach are anticipated to be available from summer 2022 and will form part of the wider regeneration of the Royal Docks.
Paul Muldowney, managing director at Redrow London, said: “The Royal Docks is one of the most rapidly changing areas of the capital. The former industrial heartland has received substantial investment since it was established as an enterprise zone in 2013, with overall investment in the area set to reach more than £8bn by 2037, including £600m of TfL investment in the DLR network.”
James McMylor, regional development director at Peabody, added: “We are committed to providing quality new affordable homes to foster sustainable and mixed communities now and into the future. This deal will create more opportunities for those wanting to rent a home at Pontoon Reach.”
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