Developer Related Argent and joint venture (JV) partner Invesco Real Estate have awarded a contract to Galliford Try’s Building unit to deliver a second build-to-rent (BTR) building at Brent Cross Town in North London, UK.
The contract carries an estimated value of £87m ($106.80m) and will see Galliford build 286 apartment units.
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These new houses are designed by UK-based architect Allies & Morrison, with interiors by Conran and Partners.
The award follows after LaSalle Investment Management provided £97m in debt finance for the project.
Galliford was already awarded a contract earlier this year to develop 249 new houses at Brent Cross Town.
Brent Cross Town is an £8bn net-zero mixed-use neighbourhood covering 180 acres that is being developed by a JV between Barnet Council and Related Argent.
Once complete, the mixed-use neighbourhood will deliver a total of 6,700 new homes, three million square feet of offices, a high street, and schools with spacious parks and playgrounds, including the new 4.5-acre Claremont Park.
Barnet Council deputy leader, Homes and Regeneration cabinet member, and councillor Ross Houston said: “Barnet’s new park town has been carefully designed to meet the needs of our residents now and in the future with a range of options including social housing, private sale homes, student accommodation and homes built-to-rent.
“I welcome the progress being made on Brent Cross Town’s first new homes that are being built specifically with Barnet renters in mind.”
