Telford Homes has exchanged contracts for the sale of its Equipment Works build to rent development site in Walthamstow, to a joint venture between Henderson Park and Greystar.

This is the third time the Group has worked with Greystar following the recent land purchase at Greenford, UB6 and the partnership to deliver 894 rental homes at Nine Elms, Battersea.

This transaction includes the sale of the freehold interest in the land and the construction of 257 build to rent homes for a net consideration of £105.5 million. The sale is on a forward-funded basis and will comprise an initial land payment followed by regular payments throughout the construction period and a final profit payment.

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The 3.16 acre site in the London Borough of Waltham Forest was purchased by the Group in December 2017 and has full planning consent for 337 new homes including 80 affordable homes and 18,830 square feet of flexible commercial space. The location is serviced by excellent transport links being situated close to Blackhorse Road station on the Victoria line and London Overground. The development is under construction and is expected to be completed in late 2021.