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UK: Related Argent has launched Ferry Island in Tottenham Hale, its latest build-to-rent (BTR) scheme in London.
The 484-unit development is one of only a few BTR schemes expected to complete in London this year.
It also concludes the 1,000 home masterplan at the 3.5-acre site, bringing to a close more than 10 years of development activity by Related Argent. The total development has a GDV of more than £600 million and comprises 1,032 new homes and circa 16,000 square feet of new retail. This includes the newly completed BTR homes as well as market sale and affordable homes, which completed as part of phase one.
The 484 homes at Ferry Island are split across two buildings, designed by Allford Hall Monaghan Morris Architects, and are made up of one-, two- and three-bedroom apartments with interiors by Conran and Partners. JLR Group are the construction partners on the projects.
The taller of the two buildings rises to 37 storeys, with views across Walthamstow Wetlands and the City. Residents in both buildings will benefit from close to 15,000 square feet of amenity space, including roof terraces on the seventh and 19th floors, a gym and fitness suite, coworking lounges, a screening room and dedicated social spaces, all managed by Related Argent.
Related Argent now manages a portfolio of more than 1,200 rental homes across three developments in London, with another 900 apartments in the pipeline. It is on track to deliver 3000 more rental homes by the end of the decade drawing on the established record of Related Companies in the US.
With the masterplan now almost complete, Related Argent is exploring recapitalisation strategies for the BTR element, with Eastdil Secured mandated on the debt and Colliers on the equity.
Oli Rifkind, chief development officer, Related Argent, said: “Launching Ferry Island, and the subsequent completion of the masterplan, is a major milestone for us as a business, bringing to a close ten years of delivery and allowing us to turn our attention to new development opportunities. In a market where supply has been constrained by viability challenges, maintaining momentum and delivering a scheme of this scale is a strong signal of both the location’s fundamentals and our long-term conviction in the sector. Our focus now shifts to stabilising the asset and progressing a recapitalisation strategy, while continuing to build a high-quality rental operating platform across Author, The Maple and Ferry Island, that not only meets, but exceeds, the needs of our growing resident base.”
Highlights:
- Related Argent has launched Ferry Island in Tottenham Hale, its latest build-to-rent (BTR) scheme in London
- The 484-unit development is one of only a few BTR schemes expected to complete in London this year
- It also concludes the 1,000 home masterplan at the 3.5-acre site, bringing to a close more than 10 years of development activity by Related Argent
- With the masterplan now almost complete, Related Argent is exploring recapitalisation strategies for the BTR element, with Eastdil Secured mandated on the debt and Colliers on the equity
