Legal & General has backed its biggest build-to-rent deal after snapping up land for a £500 million near Wandsworth Town rail station in a bid to help ease the capital’s housing crisis.
The investor, which is looking to cater for Londoners priced off the housing ladder, has teamed up with Dutch asset manager PGGM to buy two sites across six acres.
They plan to build around 1000 homes solely for rent.
The scheme also includes 35% affordable housing and extensive commercial space which could be used for shops, cafes or gyms.
Construction is due to complete in 2023.
Photo: Artist's impression