19th Feb 2019 09:41
LONDON (Alliance News) - Telford Homes PLC on Tuesday said it has sold a build-to-rent development site in Walthamstow, London, for GBP105.5 million.
The site has been sold to a joint venture between European real estate firm Henderson Park and long-term rental housing company Greystar.
It is the third time, Telford said, it as has worked with Greystar.
The 3.2 acre site was bought by Telford in December 2017, and has full planning consent for 337 new houses including 80 affordable homes as well as 18,830 square feet of commercial space.
Telford Chief Executive Jon Di-Stefano commented: "We are delighted to have secured another forward-funded, build to rent sale and especially to have further cemented our strong relationship with Greystar."
"This transaction demonstrates our increasing commitment to London's growing build to rent market and underpins our strategy to continue to scale our build to rent pipeline whilst providing certainty over future revenues and cash flows and delivering excellent returns on capital."
The stock was 0.9% higher on Tuesday morning at a price of 342.50 pence each.
Related Shares:
Telford Homes