Folio London – the private rented sector arm of Notting Hill Housing (NHH) – has signed a deal to provide more than 100 new rental homes on a former coach park for the 2012 London Olympics.
New Garden Quarter in the Chobham Farm area of Stratford is a joint venture between NHH and Telford Homes, which will provide 471 new homes in total. Of those, 112 apartments will be rented out by Folio London and are due to be ready by late summer 2018.
“We are excited to be working with Telford Homes to deliver much-needed rental homes in East London, and it’s great to be part of the wider Stratford regeneration, sparked by the London 2012 Olympics,” says Director of Folio London Lizzie Stevens. “It’s encouraging that Government policy is shifting to catch up with what we’ve been seeing in the marketplace for some time now, and the recognition of the need for purpose-built, high-quality rental homes on a more significant scale heralds a real turning point for the private rental sector.”
Jon Di-Stefano, Chief Executive of Telford Homes, commented: "We are delighted to announce our fourth significant build-to-rent transaction which underlines our commitment to this emerging sector and in this case further strengthens our relationship with Notting Hill Housing.”
Providing more new homes is a key strand of NHH’s strategy, which sets out to produce a range of high-quality housing types to support mixed communities. All surpluses from private rented and for-sale housing is reinvested in providing good quality homes for those who could not otherwise afford them.
As well as the Folio London units, NHH will be providing 109 affordable rented and 67 shared ownership homes as part of the Chobham Farm development.