StockMarketWire.com - Grainger said it had won a contract from the Transport for London to deliver over 3,000 new homes across eight seed sites in London.

The developments will include a minimum of 40% of affordable homes on all new planning consents, and the remainder predominantly for the private rental market.

The partnership would be structured as a joint venture with Transport for London owning a 49% stake and Grainger a 51% stake.

The first phase of sites would include homes across Canning Town, Ealing, Lambeth Greenwich, Hounslow and Enfield.

'The sites are located adjacent to TfL stations, providing excellent transport connections for future residents,' the company said.

'Work has commenced on the early stages of the planning application process for a number of the schemes. Build to Rent is one aspect of TfL's wider programme to provide a long-term development pipeline, delivering an initial 10,000 homes across 320 acres, with a target to start construction on the sites by 2021.'




Story provided by StockMarketWire.com