Aviva and Stories selected for Barnet BTR

Barnet Council selects Aviva Capital Partners and Stories as preferred developer for a Build to Rent and affordable housing project.

London, looking North West. Aviva and Stories have been selected for a Barnet Build to Rent project | BTR News
London, looking North West. Image credit: Mike McBey, CC BY 2.0 via Wikimedia Commons.

Barnet Council invited developers to reimagine the current Bunns Lane car park site to deliver a residentially led mixed use scheme. Yesterday (18 July 2023), the Council approved the appointment of Aviva Capital Partners and Stories to lead the redevelopment of the site, which is next to Mill Hill Broadway station.

Proposals to be developed will see a Build to Rent development delivered under a sale and leaseback model with the Council. The new scheme will deliver high-quality homes for local people, half of which will be affordable, supporting Barnet Council’s commitment to deliver more affordable housing.

“Having grown up in the area, I am excited to have an opportunity to work with Barnet Council and local residents, businesses, and groups to deliver something we can all be proud of on this important site. We are committed to pursuing a high-quality development with purpose, that delivers in the short and longer term for the Council, community and future residents. Bunns Lane is exactly the kind of complex project, critical to the local community that our partnership with Aviva was formed to tackle.” 

Paul Clark, Co-founder, Stories

Stories will lead the project. They will engage with local groups, residents, and businesses throughout the project to involve them in maximising the potential benefits of the scheme to the local community. 

Aviva’s in house capital unit – Aviva Capital Partners – and socially responsible B Corp developer – Stories – recently formed a £100m joint venture to deliver purposeful development projects in the UK.

This Build to Rent scheme is the first project in the joint venture, which will look across all asset classes. The partnership will engage across the full spectrum of the property development process from design, planning and financing, through to completion and operation.  

“Aviva Capital Partners is delighted to be investing in this project in Barnet. Investment in new, high-quality affordable housing is key to building sustainable communities and making a real difference to people’s lives.

“We formed our joint venture with Stories to create opportunities for new sustainable property investment which positively impacts communities and provides a retirement income for our customers, and this project will do both.” 

Sophie White, Sector Head for Regeneration, Aviva Capital Partners