LGIM’s New Acres BTR reaches halfway milestone

Legal & General Investment Management’s (LGIM) landmark New Acres Build to Rent scheme in Wandsworth reaches its halfway development completion milestone.

LGIM's New Acres Build to Rent scheme | BTR News
LGIM's New Acres Build to Rent scheme.

The £400m New Acres Build to Rent development – LGIM’s landmark scheme in Wandsworth – is set to transform a six-acre area into one of the largest Build to Rent developments in the UK.

Crossing the halfway development completion milestone, LGIM has let 268 homes to date, welcoming 400 residents.

New Acres will deliver 1,035 much-needed, high-quality furnished Build to Rent homes in a mix of one-, two- and three-bedroom apartments. Around 35% of homes are reserved for affordable-housing tenants, demonstrating LGIM’s commitment to supporting the communities in which it invests.

The Build to Rent scheme will also create space for over 25 independent brands, and will include hospitality businesses, workspaces, markets, public areas and an events programme for residents and the local community.

Residents also benefit from several lifestyle amenities, including biodiverse roof terraces offering panoramic views, a heated 25m outdoor lido and loungers, private dining rooms for hosting personal events, a hi-tech gym, and dedicated spaces to work in. The scheme also offers bike parking, concierge and free WIFI. The New Acres scheme is set to complete later this year.

New Acres has resident-first policies – giving residents the flexibility to make their rental property feel like home. This includes the option to have homes fully furnished; the ability to decorate to their taste; flexible contract terms and pet friendly policies – with New Acres already being home to 16 resident pets.

With many of these perks traditionally linked to home ownership, interest in renting New Acres homes has surged since launch – receiving over 1,800 enquiries to date.

“At New Acres, we’re defining a new standard of rented living, bringing together stylish homes, independent creative businesses, events and experiences in a consciously curated way.

“We hope this significant regeneration project will deliver much needed homes to Wandsworth while supporting job growth and the local economy.”

Dan Batterton, Head of Residential, Legal and General Investment Management
Private dining area.

With ambitions to establish New Acres as a neighbourhood in its own right, LGIM is making significant investments in the ‘ground floor’ of the development.

Once complete, the Build to Rent scheme will create one of the first brand new neighbourhoods dedicated to independent businesses and start-ups, animating over 50,000 sq ft of commercial space with generous support packages for inaugural commercial occupiers. New Acres will offer space to host businesses ranging from restaurants and bars to independent retailers, service businesses and amenities.

Led by Denz Ibrahim, Head of Future Place & Activation, a dedicated ‘curation team’ has been formed to find and support exciting emerging businesses in the UK.