UK: Housebuilder Barratt London has launched a £280 million BTR opportunity and has appointed CBRE to find funding partners for three assets across London.
Known as Project H, the initiative will provide 777 new BTR homes in Hayes, Harrow and Hendon, which can be acquired separately or collectively. Construction is underway on one of the assets, with completion expected toward the end of 2024. Barratt London is also ready to start works on the other two assets, with an expected delivery timeframe of two to three years.
Each Project H asset will benefit from excellent transport links and each forms part of three wider regeneration projects – which include other asset classes such as private for sale, affordable, commercial and retail accommodation.
CBRE has launched a marketing campaign with a target to appoint investors on one or all the assets before summer 2023.
Alastair Butcher, regional development director at Barratt London, who is leading Project H, said: “We are excited to launch the forward sale of Project H. All three assets have been carefully selected for Build to Rent and represent our commitment to residential investment, which forms a key component of our strategy.”
Shauny Bult, associate director, residential capital markets at CBRE, said: “The delivery of these much-needed rental homes in strong Build to Rent locations by the nation’s most awarded housebuilder will undoubtedly be an excellent long-term investment. The team has worked closely with Barratt London to curate the compelling offering and we are excited to now bring it to market.”
