Greystar has been granted full planning consent by Ealing Council to build 1,965 new homes on the derelict former GSK and Sunblest bakery sites in Greenford.
Greystar acquired the 20.3 acre site in January 2016 in its second investment in the build to rent sector following its £230m deal with Cain Hoy, Galliard Homes and Frogmore in 2015 to forward fund homes for rent at 2 Millharbour.
The Ealing development will be one of the UK’s largest-ever BTR schemes. A total of 1,439 homes will be available for rent from Greystar, with 526 homes for sale.
The scheme will also include shops, a supermarket, restaurants, cafes, leisure facilities and offices.
Mark Allnutt, managing director of multifamily at Greystar, said: “We are going to provide much needed homes for rent at a time when people are looking for a better renting experience. Greenford will be a diverse rental community for young professionals, families and older people.
“By offering a variety of apartment sizes to accommodate people at different life stages, Greenford will offer a community built around renters and their needs.”
The planning permission means that construction work can now start. Once complete, Greystar will retain ownership and directly manage the development for residents via a team of full-time onsite community managers.
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