In a strategic move strengthening their growing partnership, Weston Homes has secured a £36m (€42.8m) forward fund Build-To-Rent (BTR) agreement with Royal London Asset Management Property for its Town Quay development in Barking. This marks their second major collaboration following a £110.1m (€130.9m) deal for the Bracknell Beeches development.
The agreement covers 85 premium BTR units across two buildings at the £50m (€59.4m) mixed-use Town Quay development, which will deliver a total of 147 apartments with 42% affordable housing allocation and approximately 1,000 m² of commercial space by November 2026. Designed by PRP Architects, the waterfront development features three striking buildings—one 11-storey and two 7-storey structures—arranged around a public plaza overlooking the Mill Pond and River Roding.
"We are delighted to continue working together with Royal London Asset Management Property at our Town Quay development. This second forward fund agreement further solidifies our relationship and demonstrates the confidence in our ability to deliver high-quality residential projects. We have now undertaken BTR deals worth a combined total of £146.1 million with Royal London Asset Management Property. We look forward to bringing this development to fruition and continuing to explore further opportunities," said Bob Weston, Chairman of Weston Homes.
"This second venture with Weston Homes highlights our commitment to expanding our residential portfolio. Town Quay aligns with our goal of delivering sustainable, high-quality rental housing in prime locations, providing long-term value for our investors and future residents," added Mark Evans, Head of Property at Royal London Asset Management.
The development reconnects Barking town centre to its waterfront with architecture inspired by adjacent mill and maritime buildings. The apartments will feature contemporary open-plan living areas, balconies or terraces, and premium specifications including modern kitchens with quartz worktops and integrated appliances, luxurious bathrooms, and superfast full-fibre broadband.
- Bob Weston, Chairman of Weston Homes
- Mark Evans, Head of Property at Royal London Asset Management
- Weston Homes - Residential property developer
- Royal London Asset Management Property - Property investment arm of the UK's largest mutually owned life, pensions and investment company
- PRP Architects - Architecture firm designing the Town Quay development
- Image credit: WESTON HOMES
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