Watkin Jones, the UK's leading developer and manager of residential for rent homes, is pleased to announce exchange of contracts for the acquisition of a consented 214-home build to rent (BTR) development in Leatherhead, Surrey.
The c£71m GDV scheme will be the first operational BTR project in the town and is close to the shopping and hospitality of the centre of Leatherhead, as well as the River Mole Nature Reserve, and Leatherhead Park. On completion it will offer residents one, two and three-bed apartments, including 36 affordable homes to rent.
The Home Quality Mark ‘Level 3’ development offers strong ESG credentials, featuring air source heat pumps and a high green space provision with a large landscaped central courtyard. It is well positioned for sustainable transport, located a short walk from Leatherhead railway station, which offers access to Central London in less than an hour and the open spaces of Box Hill in five minutes.
Alex Pease, Chief Investment Officer of Watkin Jones, said: “I’m thrilled that we will bring the first build to rent development to Leatherhead. This scheme will regenerate a vacant brownfield site to offer an amazing and sustainable lifestyle for residents, with nature on the doorstep alongside easy access to the capital.
“New rental housing has a huge amount to offer communities, investing in places for the long term and providing much needed housing supply. There is growing concern about the need for new homes to rent so we can’t wait to see the first residents make their home here .”
“After a record 2021, Watkin Jones is continuing to actively invest in BTR locations throughout the country as we match very strong and growing demand from both residents and institutions.”
The site was previously a food research centre and has been vacant for five years. Watkin Jones will start on site imminently, and completion is expected in 2024.