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TfL Grainger investment partner for Build to Rent programme (1)

Questions to the Mayor of London – answered on 6th March 2020.

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Photo of Caroline Pidgeon Caroline Pidgeon Liberal Democrat

What is the expected annual revenue for TfL through its appointment of Grainger plc as its investment partner for its Build to Rent programme, broken down by each of the eight locations listed in the TfL press release of 1 April 2019?

Photo of Sadiq Khan Sadiq Khan Mayor of London

In 2019 Transport for London (TfL) appointed Grainger plc to be its investment partner for its Build to Rent programme. The programme currently includes seven sites: Arnos Grove, Cockfosters, Southall Sidings, Limmo Peninsula, Montford Place, Nine Elms, and Woolwich.

TfL is procuring a different development partner for Hounslow West using the London Development Panel 2, and this site will provide 100 per cent affordable housing.

The partnership between TfL and Grainger plc, known as Connected Living London, will deliver more than 3,000 homes for rent across London, of which 40 per cent will be affordable.

TfL’s latest estimate forecasts that the total programme will generate around £13m per year from 2026.

TfL and Grainger plc are working on a site-by-site Business Plan. When this work is complete, TfL will be able to release the forecast annual revenue it expects each site to generate.