Long Harbour and St George acquire Beaufort Park BTR

Long Harbour and St George PLC acquire a Build to Rent development at Beaufort Park in North West London, the first transaction for the pair.

Beaufort Park Build to Rent development that has been forward purchased by Long Harbour and St George PLC | BTR News
Beaufort Park Build to Rent development that has been forward purchased by Long Harbour and St George PLC.

Specialist real estate investment, development and management firm – Long Harbour – and St George PLC agree to forward purchase a Build to Rent development with accompanying amenity space within Beaufort Park, a popular neighbourhood in Colindale, North West London. Savills advised Long Harbour and CBRE advised St George on the transaction.

The homes will form the final phase of the wider Beaufort Park masterplan and  construction is already underway. Phased handover is scheduled for 2025 to 2026. Long Harbour has worked extensively with St George to define an exemplar Build to Rent product.

“Having launched two assets this year, we are delighted to announce the acquisition of Beaufort Park and add this to our best-in-class portfolio. This demonstrates our ongoing conviction in the UK multifamily sector and London as a global hub. Build to Rent will be vital to the supply of housing for the next ten years, and we continue to work with partners in delivering high quality homes for rent.

James Aumonier, Chief Operating Officer, Long Harbour

Delivering 370 new Build to Rent homes, the scheme will also include over 10,000 sq ft of private amenity with a focus on wellbeing, community and private green spaces. The neighbourhood is designed with a network of walking and cycling routes to promote healthy active travel and includes 100,000 sq ft of commercial space – including a pub, nursery, local shops, and offices which support hundreds of local jobs.

Set in 25-acres with a landscaped parkland at its heart, Beaufort Park is under a mile away from Colindale Station, 20 minutes to Euston, and just a few stops from Hampstead and Camden Town.

This acquisition forms part of the Long Harbour Multi-Family Joint Venture 2 (“LHMF 2”) with PSP Investments and Cadillac Fairview/Ontario Teachers’ Pension Plan (OTPP), which targets best in class multifamily schemes of over 150 units in London, the Southeast and selected regional cities.

All LHMF 2 properties are operated by management platform Way of Life, who has a strong focus on delivering the joint ventures ESG agenda and GRESB targets. As the development becomes operational, Way of Life will launch its Community Life programme for residents and the wider local community.

St George is part of The Berkeley Group and is a specialist in reviving complex brownfield regeneration sites. The company has clearly defined commitments to climate action, nature recovery and strengthening local communities, which closely reflect Long Harbour’s ESG priorities.

“We are delighted to be partnering with Long Harbour to deliver the final phase of the Beaufort Park masterplan and bring more high-quality homes, jobs and opportunities to the Colindale community. 

“At The Berkeley Group we believe regenerating brownfield land, like this former aerodrome site, is the most sustainable way to solve the housing crisis, strengthen local communities and re-energise our towns and cities. Long Harbour share that vison and we are proud to be working with them to secure the long-term growth and investment London needs.”

Piers Clanford, Chairman, St George PLC

Beaufort Park was one of the first civilian airfields, and following this was part of the RAF Hendon Aerodrome. This long-term brownfield regeneration project has transformed the site and wider area into a well-established community of over 3,500 private and affordable homes, with generous open green space and children’s play areas. The garden square with a traditional bandstand will be a hub for the community. It will host large events such as the annual Beaufort Summer Party and Christmas Carol Concert.