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UK: Developer London Square and QuadReal Property Group, a global real estate investment, development and operating company, have agreed to deliver 241 build-to-rent units in Woolwich, south-east London.
Through the agreement, QuadReal will forward fund the £120 million development, which will be managed by its UNCLE brand.
London Square’s Woolwich development is a triple tenure scheme delivering 700 homes, including 337 (48 per cent) affordable properties, which will be managed by The Hyde Group.
The 4.49 acre site has received full planning permission and Gateway 2 approval to create new homes, shops, and workspaces surrounded by a public realm.
The scheme also incorporates energy-efficient design such as central air source heat pumps, “high performance” building fabric, and glazing that minimises energy demand and carbon emissions. These features will help to contribute to a 76 per cent reduction in regulated carbon emissions across the masterplan.
Construction will begin this spring, with completion expected in 2029.
Adam Lawrence, chief executive of London Square, said: “Through our first partnership with QuadReal, we will add a much-needed rental offering to the mix of new homes on offer in a neighbourhood that benefits from excellent transport links, amenities and green spaces. Partnering with a respected investor known for operational excellence and a renter first approach highlights the quality of our Woolwich scheme and the strength of London Square’s approach to design and delivery in the capital.”
Kristian Branum-Burns, managing director of QuadReal, said: “Our partnership with London Square is a direct reflection of our global investment strategy to deliver high quality, sustainable homes in well connected urban locations. This project joins our award-winning UNCLE portfolio, and we are confident this development will set a new benchmark for design, sustainability and placemaking, while creating long-term value for the local community. This development brings QuadReal’s UK built-to-rent and student housing platform to over 11,000 units.”
Highlights:
- London Square and QuadReal Property Group have partnered on a build-to-rent development, delivering 241 rental units at a £120 million scheme in Woolwich, south-east London.
- QuadReal will forward fund the Woolwich project and operate the completed build-to-rent asset under its UNCLE residential rental brand.
- London Square’s 700-home mixed-tenure development includes 337 affordable homes, representing 48 per cent of total housing provision, managed by The Hyde Group.
- The fully approved 4.49-acre masterplan will create new homes, retail space and workplaces, with construction scheduled to begin this spring and completion targeted for 2029.
- Energy-efficient features including central air source heat pumps, high-performance building fabric and advanced glazing are designed to reduce regulated carbon emissions by 76 per cent across the development.
