Grainger and TfL buy build-to-rent scheme in west London
Giant private landlord Grainger and Transport for London (TfL)’s property company have agreed to forward-fund and buy a 195-home build-to-rent (BTR) scheme in west London.
Giant private landlord Grainger and Transport for London’s property company have agreed to forward-fund and buy a 195-home build-to-rent scheme in west London #UKhousingConnected Living London, a joint venture between Grainger and TfL’s property arm Places for London, has bought the Chiswick Reach scheme in Bollo Lane, Acton.
The purchase price for the scheme was £68.4m, Grainger said in a stock market announcement on 26 January. Grainger paid 51% and Places for London paid 49%, in line with the joint venture’s structure.
The development is expected to generate returns for Grainger in the landlord’s target range for London schemes. Grainger will also receive asset management fees.
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The scheme will be built by house builder Barratt Redrow, marking Grainger’s first BTR collaboration with a major UK house builder.
Barratt said last year that the homes at Bollo Lane will be built to the highly energy-efficient Passivhaus standard.
It has already received planning consent and Gateway 2 approval from the Building Safety Regulator to begin construction.
The scheme will comprise 195 BTR homes, including 95 discounted market rent homes, commercial space and internal amenities such as co-working spaces and a gym.
Chiswick Reach is an eight-minute walk from the Chiswick Park District Line station and South Acton Overground station.
Construction is expected to begin in the first quarter of 2026, with practical completion anticipated in late 2028 and leasing beginning between late 2028 and early 2029.
Grainger is the UK’s largest listed residential landlord, with a portfolio of 11,000 BTR homes and 4,500 further homes in its £1.3bn pipeline.
Connected Living London aims to deliver rental homes across London with a focus on transport hub locations.
Helen Gordon, chief executive of Grainger, said: “Working alongside Barratt Redrow on this project represents an exciting development in our approach to delivery partners, opening potential new avenues for collaboration with major house builders as we continue to expand our build-to-rent portfolio across the UK.
“This scheme further strengthens our London portfolio, complements our growing cluster in west London and demonstrates continued momentum in Connected Living London, our partnership with Places for London, delivering professionally managed, purpose-built rental homes across the capital.”
Earlier this month, billionaire Mike Ashley acquired a 3.1% stake in Grainger. The founder of Frasers Group, which owns Sports Direct, Flannels, House of Fraser, GAME and Jack Wills, acquired the stake in Grainger through a spread bet. This means his profit or loss is calculated on the extent of price movement and his chosen stake per point.
In November last year, Grainger reported a 12% rise in net rental income in its full-year results for 2024-25. Its net rental income rose to £123.6m in 2024-25 from £110.1m the year before.
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