Inland Homes has started work on the construction of Patchworks, the regeneration of the former Homebase site in Walthamstow, under a £90m contract for London BTR Investments.
London BTR (LBTR) is a build-to-rent joint venture between housing association Newlon Housing Trust property investors EQT Exeter and Sigma Capital Group.
Inland Homes, which specialises in this sort of brownfield developments, gained planning consent for the development of 583 homes in April 2021. The site was then sold to LBTR with the remaining for Newlon. Inland secured build contracts worth £90m to construct the homes on behalf of both parties. It is Inland’s largest partnership housing contract secured to date.
Following demolition of the former Homebase store, construction has now begun on site. The scheme will deliver 355 private rented apartments under Sigma’s Simple Life London brand for LBTR and 228 affordable homes for Newlon. There will also be commercial and community space, gardens and play areas. It is expected to be complete in 2025.
Sigma investment and acquisitions director Jack Barnet said: “Patchworks is set to become one of LBTR’s flagship build-to-rent schemes, offering high quality rental homes under the Simple Life London brand. Having a reliable partner like Inland delivering it gives us assurance and it is exciting to see construction get started.”