L&G’s for-profit provider completes 311-home deal from house builder

The homes, completed in December, will be used for social rent to alleviate local affordable housing pressures.

Of the 311 homes, 158 are in addition to planning requirements to accelerate the supply of urgently needed affordable housing in London.

Colindale Gardens is located on the former Hendon Police College in Zone 4, within easy access of central London.

It is one of London’s largest regeneration projects and will provide 4,041 homes across the full development, including 1,200 affordable homes.

To date, 2,888 homes have been built across the site. It will also provide nine acres of landscaped green space including playgrounds and a park.

The wider development includes £11m upgrades to Colindale Underground station, which reopened in December after two years of improvement works, a primary and junior school, and mixed-use commercial space for shops, cafes and restaurants.

Colindale Gardens is a key component in the Colindale and Burnt Oak Opportunity Area, designated as part of the mayor’s London Plan to create more homes, jobs and improved infrastructure across the capital.

Across the Opportunity Area, there is potential for 7,000 homes and 2,000 jobs by 2041.

L&G Affordable Homes was established in 2018 to provide affordable housing options across the UK. L&G, a financial services group and global investor, has £1.1tn in total assets under management as of its 2025 half-year financial results.

Barratt London, part of Barratt Redrow, has over 40 years of experience in London, building up to 2,000 homes each year.

Ali Farrell, senior fund manager at L&G, said: “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.”

Craig Carson, regional managing director at Barratt London, said: “This agreement exemplifies how home builders and private sector partners can work together with local government to provide the urgently required affordable homes and funding London needs.”

Last week, a joint venture between L&G, a Dutch investor and a UK pension fund bought a site in south London to develop a 700-home build-to-rent scheme. 

In January, Dan Batterton, head of housing at L&G, told Inside Housing Living about how affordable housing is set to dominate L&G’s living sector investment strategy in 2026.

Prior to that, L&G Affordable Homes announced it will develop 122 homes in Lincolnshire with grant funding from Homes England. The for-profit registered provider had purchased land at Wainfleet Road in Boston, Lincolnshire to develop 85 homes for social rent and 37 for shared ownership.