Lendlease has announced that work on its first collection of Build to Rent homes within the European market is nearing completion. They have confirmed that residents are expected to start moving into the new Build to Rent homes at Elephant Park early in 2021.
The new homes at Elephant Park will be the first to be delivered through a partnership between Lendlease and Canada Pension Plan Investment Board (CPP Investments), which set an initial target of investing £1.5bn in the sector. They agreed another approx. £85m to fund the Build to Rent homes at Elephant Park – the second major investment announced this year.
The partnership is already planning to create over 900 new Built to Rent homes at Elephant Park – a £2.5bn regeneration project where thousands of new homes are being delivered by Lendlease in partnership with Southwark Council within Zone One of central London.
“London is a great global city but there’s not enough quality rental housing, and that’s where Lendlease wants to help improve the offer. We’re experts in large-scale urban regeneration projects and being able to develop this kind of new and specialised product within a master-planned scheme of the quality of Elephant Park, where a community is already thriving, is a unique opportunity.”Stephanie Barbabosa, Head of Build to Rent, International Operations for Lendlease
The ‘Living by Lendlease’ rental homes will be the first to be managed by the international property and investment group. They will be tailored to meet their new residents needs – so they’re able to experience a frictionless lifestyle within the heart of London.
The Lendlease team will be on hand 24 hours a day – dedicated to offering the best possible rental experience. Residents will be encouraged to feel that they can ‘rent it like they own it’ and to consider their new home as somewhere they can set up home for several years if they choose to.
“A lot of thought has been put into how we can add to a sector that looks set to flourish in the UK. We’ll have all of the latest tech – but more importantly we have a commitment to providing the very best possible service for every single one of our residents. I’m looking forward to sharing more about our plans as we move ever closer to welcoming our first residents through the door.”Stephanie Barbabosa, Head of Build to Rent, International Operations for Lendlease