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Telford Homes and Greystar agree third London development

Equipment Works site in Walthamstow will be turned into rental accommodation

Building site
Site will see 257 rental properties built

Telford Homes plc (LON:TEF) has agreed on plans to develop its Equipment Works site in Walthamstow, London for build-to-rent accommodation.

The 3.2-acre site will be sold for £105.5mln to real estate platform Henderson Park and rental group Greystar, with Telford to build 257 homes on the plot as part of the deal.

READ: Telford Homes posts in-line interim results but brokers still trim estimates, targets on slowing London market

Greystar and Telford are already working on a site for 894 homes at Nine Elms, Battersea and bought a site in Greenford together.

Jon Di-Stefano, Telford’s chief executive, said he was delighted to have secured another forward-funded, build to rent sale and to have further cemented the relationship with Greystar. 

Enterprise Works has full planning consent for 337 new homes including 80 affordable homes and 18,830 sq ft of commercial space. 

Quick facts: Telford Homes plc

Price: 349.5 GBX

AIM:TEF
Market: AIM
Market Cap: £267.01 m
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