Developer and manager of residential for rent – Watkin Jones – practically completes on part of a Build to Rent scheme in Ravensbourne Place in Lewisham, South East London. Built on a former Tesco carpark, the scheme is being delivered on behalf of L&G as part of a wider project currently under construction. Forward funding was announced in Q4 2021.
Providing a mix of one, two and three bedroom Build to Rent apartments, 138 units of the first of two blocks constructed is being handed over to L&G. The second block will be exchanged in 2024.
“We are delighted to practically complete and hand Block 2 of the Ravensbourne Place Build to Rent development over to our client, L&G.
“Working together in close collaboration, this project reflects the very best in construction within an inner-city location to help alleviate ongoing shortages in the rental market in South East London. This continues to be an exciting partnership with L&G and has helped us bring sustainable new housing to an important part of a Lewisham regeneration zone.”Richard Harris, Group Delivery, Managing Director – Group Delivery, Watkin Jones
Ravensbourne Place apartments are spread over two adjoining buildings with eight and thirteen floors respectively and are connected by an adjoining garden terrace. Amenities in the first building include an entertainment suite, shared community space and lounge, and landscaped gardens. The scheme will also offer residents spectacular views over the capital.
The scheme will provide charging points for electric cars and ample bicycle storage for residents, supporting sustainable local transport and helping the development to achieve a BREEAM “Very Good” rating. Residents also benefit from being next to Lewisham train station, which offers easy access to the city with DLR and Southeastern train services.
Supporting the Group’s Future Foundations ESG strategy, the Ravensbourne Place Build to Rent development incorporates cutting edge technology and engineering to target reduced emissions, supporting Watkin Jones’ sustainability objectives.
This has been achieved with the implementation of air source heat pump heating for the hot water system, which eliminates the need for gas usage. Also, a water attenuation system prevents overcapacity into the public drainage system.
“It’s fantastic to see this phase of Ravensbourne Place complete, spurring the continued growth of our Build to Rent platform and further successful collaboration with Watkin Jones. Through investing Legal & General Retirement Institutional funds into Build to Rent schemes, we have a tangible opportunity to increase the UK’s supply of high-quality, sustainable homes, all whilst generating returns that pay pensions. We’re delighted to continue to put pensions capital to good use.”Adam Burney, Head of Annuity – Build To Rent, LGIM