Barratt London has finalised the sale of 311 affordable homes at its Colindale Gardens development to Legal & General (L&G).

The agreement, which was completed in December, includes 158 homes provided in addition to standard planning obligations, significantly boosting the supply of social rent housing within the London Borough of Barnet.

The acquisition was made via L&G's Affordable Housing Fund, established in 2024 to provide institutional investors with inflation-linked returns while delivering societal benefits. The homes will be managed by L&G Affordable Homes, a registered provider launched in 2018. The deal marks the latest collaboration in a long-term partnership between the two firms aimed at tackling the capital's housing crisis.

Colindale Gardens, situated on the former Hendon Police College site, is one of London's largest regeneration schemes. Upon completion, the project will deliver 4,041 homes, including 1,200 affordable units. To date, 2,888 homes have been constructed across the development, which is set within nine acres of landscaped green space and a new four-acre park.

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The wider infrastructure project includes an £11m upgrade to Colindale Underground station, which reopened in December following a two-year improvement programme. The site also features a 600-pupil primary school operated by Saracens Rugby Club and 10,000 sq ft of commercial space. The development is a central element of the Colindale/Burnt Oak Opportunity Area, which has the potential to create 7,000 new homes and 2,000 jobs by 2041.

Craig Carson, Regional Managing Director at Barratt London, said: "This agreement exemplifies how homebuilders and private sector partners can work together with local government to provide the urgently required affordable homes and funding London needs. Building on our strong existing relationship with L&G, the provision of affordable homes with excellent transport links will help create an inclusive community in a fast-growing London neighbourhood."

Ali Farrell, Senior Fund Manager at L&G, added: "This scheme represents the single largest grant-enabled social rented affordable housing scheme delivered in London in the last 12 months, and will make a meaningful difference to local families in temporary accommodation and social housing waiting lists."

Cllr Ross Houston, Barnet Council Deputy Leader and Cabinet Member for Homes and Regeneration, welcomed the progress, stating: "Affordable housing remains one of the most pressing challenges in Barnet, where demand continues to outstrip supply. The delivery of these new social rent homes at Colindale Gardens represents a meaningful step in addressing that gap."