Waltham Forest Council’s planning committee has awarded planning consent for the construction of a 440-home build-to-rent scheme in Walthamstow on the site of a former industrial estate located close to Blackhorse Road Station.
Aside from the construction of new homes, plans for the mixed-used scheme, which was designed by Assael Architecture, also include new cafes, a mini-supermarket, communal working spaces, opened landscaped areas and communal leisure spaces for residents.
The scheme, which will feature five gateway developments, will be delivered by Legal & General with a view to providing income for pension funds.
Dan Batterton, the build-to-rent fund manager at Legal & General, said: “This decision puts us on track to deliver hundreds of new homes in East London, offering high quality yet attainable accommodation on a flexible basis to suit the lifestyles of modern renters.
“As part of our long-term commitment, we are also helping to open up access to the Walthamstow Wetlands for the benefit of residents and the wider public.”
The Walthamstow project is being developed by Legal & General Investment Management Real Assets on behalf of a joint venture between Legal & General Capital, the group’s principal investment arm, and PGGM, the Dutch pension fund.
“Across Legal & General’s build-to-rent platform we now have 900 homes under planning or in construction as part of plans to deliver thousands more homes and re-establish what it means to rent in the UK,” added Batterton.