Telford Homes and a joint venture between Ridgeback Group and Angelo Gordon (the JV) announce the completion of a landmark £300m forward-funding deal to deliver a diversified portfolio of three high-quality Build to Rent developments across London. The deal marks a major milestone for Telford Homes as it continues to build its growing Build to Rent pipeline as a Trammell Crow Company Developer.
The new deal will provide over 750 Build to Rent homes across three sites – Capital Interchange Way in Brentford, Mill Road in Ilford, and the former Metroline Bus Garage in Alperton.
The final asset in the portfolio is Alperton Bus Garage, a bespoke development of 306 Build to Rent homes alongside a residents’ lounge, gym, co-working areas, and over 12,000 sq ft of manicured residents’ gardens, terraces, and children’s play space at podium level. The scheme will also deliver 155 affordable homes, which have been acquired by Greenstone.
Telford Homes acquired the site in November 2021, having received planning approval from Brent Council to transform the current bus depot into a high-quality mixed-use residential and commercial development. Alongside the Build to Rent homes, the Alperton Bus Garage development will deliver 27,400 sq ft of light industrial and last mile logistics space, known as Alperton Yard. The space is aimed at supporting start-ups, small businesses and those in the creative industries. This area is also being acquired by the JV at completion. Demolition commenced in February 2022.