- What Knight Dragon’s JV with MGT and Lincoln at Greenwich Peninsula
- Why Tie-up to deliver around 500 PRS homes
- What next Construction set to begin later this year
Knight Dragon has formed a joint venture with US-based developer Lincoln Property Company and investor MGT to deliver around 500 build-to-rent homes at Greenwich Peninsula.
The partnership will focus on a plot on the eastern side of the peninsula’s Parkside neighbourhood, and subject to securing planning consent, construction of the first homes is to begin later this year.
The JV is the latest to focus on housing at the 150-acre site, which has already seen the delivery of more than 1,000 homes.
Last year, Knight Dragon submitted a revised masterplan to increase the number of homes across Greenwich Peninsula from 15,730 to 17,487.
Richard Margree, chief executive of Knight Dragon said: “Introducing Build to Rent to Greenwich Peninsula allows us to bring forward more homes more quickly across this major regeneration and maintain the positive pace of development we have established. Creative partnerships with best-in-class groups such as these are key to maintaining the delivery rate within an opportunity area of this scale and significance.
“As a 20 year regeneration, we are consistently evolving our approach to respond to market demand and new ways of living that are always emerging across the capital. Working with Lincoln Property Company and MGT to bring purpose-built rental homes to Greenwich Peninsula creates more opportunity to live in and be part of this new London district.”
Henry Morris, co-managing director of MGT, said: “Establishing this important partnership with Knight Dragon allows us to bring our experience in the Build-to-Rent sector to advance an exciting vision for Greenwich Peninsula. This is our second major project with Lincoln, after Station Hill in Reading, and forms an important part of a strategic joint venture delivering MGT’s Millennial Cities strategy to develop and manage a portfolio of BTR assets which combine affordability, amenity and accessibility.“
Troy Javaher, head of Europe/UK for Lincoln Property Company added: “This partnership on Greenwich Peninsula marks another important step in our UK strategy as we embark on a period of European expansion. Lincoln brings its unique track record as one of the most prominent developers and the second largest operator of build-to-rent in the United States to one of the most exciting regeneration schemes in London.
“We will combine this with the expertise of our growing London-based team to deliver a high-quality residential product on Greenwich Peninsula tailored for the London rental market.“