Long Harbour completes Riverstone Heights Build to Rent scheme

Long Harbour and The Guinness Partnership reach completion at its Riverstone Heights Build to Rent scheme in East London.

Long Harbour completes at the Riverstone Heights Build to Rent scheme in East London | BTR News
Long Harbour completes at the Riverstone Heights Build to Rent scheme in East London.

Specialist real estate investment, development and management firm – Long Harbour – and The Guinness Partnership reach practical and financial completion of 204 homes at its Riverstone Heights Build to Rent development in East London. The scheme is part of the Leaside Lock riverside development in the heart of Zone 2, designed by Assael Architecture.

The transaction with Long Harbour represents a Build to Rent debut for The Guinness Partnership and builds upon the delivery of affordable and open market homes at Leaside Lock.

“We are pleased to reach this delivery milestone at Leaside Lock and this handover represents the completion of Phase 1 of the development. This mixed tenure scheme creates a vibrant community and is part of our approach to large-scale mixed-use developments such as Leaside Lock.”

Jon Milburn, Group Development Director, The Guinness Partnership

The 27-storey Riverstone Heights Build to Rent development includes one and two bedroom apartments in Zone 2’s Bromley-by-Bow. Long Harbour will also deliver 13,000 sq ft of shared amenity space – including a co-working space and rooftop terrace. The scheme is welcoming its first residents in the spring.

Riverstone Heights has been built using sustainable modern methods of construction with the entire façade prefabricated off-site. The concrete panels and windows paved the way for a rapid build with limited material waste and transport requirements.

Residents living at the scheme benefit from the surrounding independent shops and bars. Westfield and well-known creative hubs such as Hackney Wick and Here East are also nearby.

The Riverstone Heights Build to Rent scheme will be managed in-house by Way of Life – an award-winning, lifestyle focused Build to Rent consumer platform. Overall, the scheme has achieved the Planet Mark Certification and will consistently target high ESG and GRESB ratings by Way of Life.

The wider Leaside Lock development is being delivered by The Guinness Partnership, one of the largest providers of affordable housing in England, alongside development manager Danescroft. It will deliver a total of 965 new homes in Tower Hamlets – half being affordable.

“The sale to Long Harbour by Guinness of 204 apartments concludes delivery of the 500 homes within Phase 1 of the Leaside Lock development. This is a huge achievement and one that will be welcomed locally as it sees first stage of regeneration, conceived as part of the Bromley-by-Bow masterplan, becoming a place to live and be rather than simply a vision.”

Dominic Fryer, Chief Executive, Danescroft

Led by the London Legacy Development Corporation (LLDC), Leaside Lock is a key part of the ongoing regeneration of the Olympic Park area. It benefits from excellent transport links with easy reach into London.

“This is an important milestone for Leaside Lock, a key part of ongoing regeneration of the Olympic Park area. The Build to Rent community will benefit from Way of Life’s outward looking approach which gets behind local, grassroots projects that share our vision for greener, dynamic neighbourhoods. 

“This, coupled with a much higher than average affordable homes ratio, demonstrates a clear commitment to the social aspect of the ESG agenda and will contribute to the area’s incredibly diverse community.

“Riverstone Heights demonstrates clear momentum for Long Harbour and our ambitious Build to Rent platform, alongside our JV partners Cadillac Fairview and PSP Investments.”

James Aumonier, Chief Operating Officer and Group Head of Build to Rent at Long Harbour

This acquisition forms part of the firm’s Build to Rent fund, which targets high quality Build to Rent schemes of over 150 units in London, the South East and selected regional cities.