Finefair appreciates how attractive build to rent developments are. They give investors potential long term income and also allow them to benefit from high demand for rental homes. As a lettings agent Hounslow landlords rely on, we can explain the process and provide suitable services for any kind of need.
Transport for London
TfL is planning to enter the build to rent market. They are looking at building 3,000 new homes above stations and car parks as well as on vacant land across London. The plan is to create a long term revenue stream whilst also providing high quality housing in areas with outstanding transport links.
The transport authority is looking for a partner to take on the joint venture. As part of the proposal they will supply the land and maintain a 49% stake in the homes. Their partner, whether it is a property developer or an investment fund, could offer funds and would receive the remaining 51% stake.
Transport for London will be looking to provide lots of new affordable housing under their proposal. The aim is for at least 40% of the 3,000 homes to be at or below market rent. This would make them accessible to more Londoners.
The initial proposal is for ten sites across the capital. One of them is Hounslow West, a popular station in West London between Heathrow and Richmond. Other locations include Nine Elms, Woolwich, Cockfosters, and Wembley Park.
The proposal is still in its early phases but TfL hopes to choose a partner by the end of March 2019. If they meet this timescale plans can be drawn up for the ten sites to try to secure planning permission. If successful, construction could start in either 2020 or the following year.
Finefair can provide services for all kinds of landlords, including the very best guaranteed rent London has. We are a lettings agent Hounslow based clients know for offering excellent value. Whether you have a large or small portfolio we can help. Get in touch today to find out more.