UK: Grainger plc has acquired its second BTR scheme at the Hale Wharf Estate in north London for £28 million.
The scheme is in phase two of the estate and was acquired from Waterside Places, a joint venture between the Canal and River Trust and Muse.
McLaren Construction will act as the main contractor to deliver 65 BTR homes at the scheme, alongside 1,900 square feet of commercial space, with practical completion set for August 2024.
Helen Gordon, chief executive officer of Grainger, said: “We are delighted to secure our second scheme at Hale Wharf, an excellent North London location which appeals to renters looking for a range of amenities and access to nature on their doorstep, whilst also benefitting from excellent transport links across the capital.”
“In addition to strengthening our North London operational cluster, this acquisition also marks the second scheme we will deliver in partnership with Waterside Places, which is a great testament to the success and positive collaboration we have enjoyed with Windlass Apartments,” she added.
The Hale Wharf Estate is a major mixed-use regeneration scheme that will deliver 505 new homes, 38 per cent of which will be allocated for affordable housing. These will be delivered in phase 2, and will be owned and managed by the London Borough of Haringey.
The newly acquired BTR development is positioned beside Grainger’s existing scheme, Windlass Apartments, providing 108 BTR homes and which was also delivered through a partnership with Waterside Places.
Mike Auger, regional managing director – South for Muse, said: “We have worked successfully with Grainger to deliver them a high-quality building in the first phase of Hale Wharf. It’s fantastic that they continue to see the opportunity at Tottenham Hale, to support genuine placemaking and regeneration in an underutilised waterside location. With Phase 1 now complete, and new pedestrian connections delivered, the benefits of regeneration are becoming obvious. Critically, this also includes council homes which meets the needs of the community and the objectives of the London Borough of Haringey and the Mayor of London.”
