UK: Legal & General SBTR has acquired 41 SFR homes in Wintringham, St Neots, from housebuilder Stonebond.
The units consist of 10 apartments and 31 houses which will feature air-source heat pumps and electric vehicle charging points. First handover of units is expected to take place in June 2024.
The development forms part of the wider Wintringham masterplan, which is being delivered by Urban&Civic and will provide 2,800 new homes in total.
Urban&Civic has already delivered a new primary school and play areas throughout the development. The company will also deliver further retail and amenity spaces which includes a café, community centre and Health Centre.
David Reid, managing director of Legal & General SBTR, said: “We are a committed investor in homes that support healthier living standards and address the significant demand for quality rental housing across the UK, so I’m delighted to announce this new exchange with Stonebond. This partnership will deliver much-needed family homes in a thoughtfully designed and well-connected community, whilst also building out assets for our long-term partners. Delivering diverse residential offerings across the country is essential to meet the UK’s housing needs, and reliable, long-term rental options must be a part of this.”
Andrew Cornelius, group CEO at Stonebond, added: “As a partnerships developer, our main objective is to deliver thriving, mixed-tenure communities by working with housing providers and PRS investors, and we’re very pleased to be working with L&G here in Wintringham. There is a significant housing need for quality, rented housing in the local area, and this deal will help to meet that need. At the same time, we’re also providing 38 affordable homes with our partner Orbit Group, as well as open market homes, providing housing opportunities to a broad range of people.”
The acquisition follows L&G’s deal with Chartway to deliver SFR homes in East Sussex, which was announced last week.
