has agreed to acquire 3.88 acres of the approximately 9 acre Abbey Retail Park
site from Estates & Agency Group to develop and manage the purpose built
private rented homes, subject to obtaining the relevant planning consent. The
site is located in the heart of Barking on Abbey Road, situated a short walk to
Barking’s mainline and London Underground station.
& Agency Group received planning consent last year to develop a new
Sainsbury’s store on the rest of the site, with demolition works on the new
store set to start next month. The regeneration of the entire site will create
a vibrant new community in Barking and become a key part of the area’s
transformation as a place that attracts a new generation of people.
latest deal for Be:here comes as the first of its 158 purpose-built homes in
East India are about to become available for private renters at the Aberfeldy
Village development, with over 500 registrations of interest already. The
online letting and management platform that be:here will use as its key
interface with tenants, an industry first for the UK PRS market, will go live
in the next month.
at be:here’s development of 132 homes at the Old Vinyl Factory in Hayes is now
well underway and will be complete next Spring, while at Kew Bridge the company
has over 330 units at the Brentford FC stadium masterplan, which will be one of
the biggest simultaneous developments of homes for sale and private rent in
London when construction starts next year.
of these developments is tailored at the ever growing number of young
professionals who want to live in convenient locations close to central London
but are frustrated with the poor quality of service that renters are getting
from much of the buy-to-let stock available.
Telfer, chief executive of Willmott Dixon’s development division, says,
“Barking is a key milestone in be:here’s plans to create vibrant rental
communities at scale across London and other major cities. What’s unique for us
is that we will be the long-term operator of the apartments first and foremost,
so our presence over many years means we have a keen interest in the success
and growth of the wider community in central Barking.”
Rosefield, Estates & Agency Group Chairman, said “The agreement with
be:here is the next stage of realising the vision for the site’s regeneration.
Over the next few years there will be transformational change in this area of
Barking, creating hundreds of new homes and jobs. Barking is a great place to
invest and Estates & Agency Group is delighted to continue to be playing
our part in the town’s ongoing regeneration.”
Projects is lead consultant on the project, supported by Broadway Malyan,
architects, and i2 as development managers. Work will now start on a planning
application, with the aim to be on site early in 2016. It is anticipated that
the first homes will be available to rent in 2018.