Related Argent and joint venture partner Invesco Real Estate have appointed the main contractor and secured the debt finance for the development of Brent Cross Town’s second Build-to-Rent (BtR) building, enabling construction of 286 new homes. Galliford Try will deliver the homes and over 17,000 sq ft of amenity and retail space, while the £97m debt financing is provided by LaSalle Investment Management, further building on the significant momentum at the £8Bn net zero park town in London. 

The debt financing takes the form of a Green Loan, lending dedicated to sustainable projects, which is linked to the strong environmental credentials of the building. The building is designed to be supplied with very low carbon heating and cooling from the development’s electric district heating and cooling network, which is being delivered in partnership with Vattenfall. In addition, the building aims to deliver a measurable net gain in biodiversity and to minimise construction waste and embodied carbon through efficient off-site manufacturing. LaSalle Debt Investments’ green loan structures are compliant with the Loan Market Association’s green loan framework. The overall Brent Cross Town development is committed to reaching net zero by 2030.

The announcement demonstrates the significant progress being made at Brent Cross Town. Six buildings are now underway, the first of which will be completed from the end of 2024. In total, over 930 homes, including affordable, market sale and BtR homes are on-site along with 662 student rooms in partnership with Fusion Students. Sheffield Hallam University will open its first satellite campus outside of Yorkshire at Brent Cross Town, and a joint venture between Audley Group and Senior Living Investment Partners (Octopus Real Estate and Pension Investment Corporation) will create a retirement village with around 150 homes.

You can now read the full press release at the link below