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Grainger investment partner for Build to Rent programme (2)

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

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Photo of Caroline Pidgeon Caroline Pidgeon Liberal Democrat

With a 49/51 equity share split between TfL and Grainger plc respectively how will any Mayor of London guarantee that the land on any previous TfL site is maximised for the public interest in the years ahead?

Photo of Sadiq Khan Sadiq Khan Mayor of London

Connected Living London (CLL), the partnership between TfL and Grainger, has a Strategic Business Plan which governs how the partnership acts and identifies objectives including the delivery of quality rental homes. There is equal representation throughout the governance structure, meaning that TfL and Grainger plc have an equal say on how each site is developed and managed. This partnership means TfL can share in the long-term revenue created while leveraging Grainger’s unique experience as the largest build to rent landlord in the UK.

TfL will retain the freehold of all the sites to ensure that it retains standard landlord controls and protections.