Construction News

15/02/2016

Telford Homes Sells Residential Scheme To L&Q

Telford Homes has sold a residential development to L&Q Housing Association for £66.75 million in north London.

The Pavilions scheme, which is currently under construction, contains 156 homes on Caledonian Road.

L&Q will let 96 of the properties under its Private Rented Sector portfolio, while the remaining units will be 'affordable' housing.

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The development is expected to be complete by the middle of 2018.

Jon Di-Stefano, Chief Executive of Telford Homes, said: "We are delighted to have concluded our first PRS deal with a well-established PRS provider, who are already a valued partner to the Group.

"The strong level of interest shown in The Pavilions by PRS investors confirms the potential of the PRS market anticipated at the time of our equity placing in November 2015."

Telford Homes added it is already exploring a second development for sale in the PRS sector.

(LM/MH)

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