Legal & General’s plans for a major mixed-use build-to-rent development in Walthamstow, E17, have been approved by Waltham Forest Council.
The scheme, which will now be passed to the Greater London Authority as part of the final approval process, is expected to deliver 440 homes on a former industrial estate close to Blackhorse Road Station.
Plans for the development include new cafes, a supermarket, communal working spaces, open landscaped areas and communal leisure spaces for residents. The scheme will comprise five gateway buildings along the Walthamstow Wetlands.
L&G has invested £8bn in UK infrastructure, direct investments and urban regeneration projects and aims to invest £15bn.
The Walthamstow scheme, as well as two further sites in Bristol and Salford, are being developed by LGIM Real Assets on behalf of a joint venture between Legal & General Capital, the group’s principal investment arm, and Dutch Pension Fund PGGM. The partnership was established earlier this year and will initially invest £600m into purpose-built private rental housing across the UK, providing more than 3,000 homes.
Savills advised LGIM Real Assets. The scheme was designed by Assael Architecture.
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