Wembley Park is about to become the largest build to rent development site in the UK, with Quintain planning 5,000 private rented sector (PRS) homes around the national stadium.
With funding and planning secured, 3,000 homes will be under construction by the end of 2017, the developer asserts. These homes will be managed by Quintain’s build to rent business, Tipi, which it launched in April 2016.
By the end of this year, as well as 3,000 homes under construction, work will also have started on a new seven acre public park, a new landscaped London square, a three-form entry primary school and a range of shops, restaurants and workspaces.
Quintain’s next Tipi apartment building will be available for occupation this summer.
Quintain has already invested £900m in the development of Wembley Park and has a further £800m of funding secured, with planning permission in place.
Quintain has planning permission for a total of 6,955 homes at Wembley Park, of which 995 homes have already been completed and occupied and a total of 4,874 homes will be build to rent.
Chief executive Angus Dodd said: “Our commitment to build to rent at Wembley Park means we can deliver the homes London needs far faster than if we were selling homes privately and ensures they will be occupied very shortly after they are complete.
“This long term commitment also means we can design homes specifically for the needs of today’s generation of renters and provide fantastic shared facilities and professional management arrangements which our residents love.”
Brent Council leader Muhammed Butt said: “To have 3,000 new homes under construction in one location this year shows just how in demand Wembley Park is as a place to live and it is comforting to know that with professional management in place, we won’t have a single rogue landlord.”
Mayor of London Sadiq Khan said: “This development will provide 5,000 much-needed private rented homes for Londoners. It will take time to fix the housing crisis, but at City Hall we are committed to help deliver schemes like this that will increase the supply of homes across the capital.”