Telford Homes and Greenstone complete deal to provide 155 new affordable homes in Brent
Telford Homes is pleased to announce the completion of a deal with Greenstone, to provide 155 new affordable homes in Brent.
The deal will see Greenstone acquire the affordable element of the Alperton Bus Garage scheme, comprising 155 homes.
Telford Homes acquired the site in November 2021 - having received planning approval from Brent Council to transform the current bus depot into a high-quality residential and commercial development. Upon completion, it will deliver 461 new homes, including a mix of build to rent and affordable units, alongside new retail and community offerings and enhancements to the public realm.
In addition, the development will deliver 2,550 sq m of light industrial space, known as Alperton Yard, aimed at supporting small businesses and those in the creative industries. The development will also make a significant contribution to the local economy, providing 150 new employment opportunities for local people.
Jerome Geoghegan, Group Land & Planning Director at Telford Homes, comments: “We’re delighted to have completed this deal with Greenstone, which will bring much-needed affordable homes to the area. The Alperton Bus Garage development perfectly encapsulates our vision to create the homes and sustainable communities the Capital needs and, with the support of Greenstone and Brent Council, we look forward to transforming this previously industrial site into a vibrant residential and community space.”
Ryan Mitchell, Managing Director from Greenstone, comments: “the success of this transaction was down to the huge team effort by all involved – thank you.
Brent Council has a significant housing need and we are pleased to bring this affordable housing development to the market. We look forward to working together with Telford in the next stage of delivery.”
Councillor Promise Knight, Cabinet Member of Housing at Brent Council, comments
“This agreement to build 155 council homes is yet another milestone in our ambition to reach a target of 1,700 by 2028. Brent is leading the way in investing in much needed council properties, helping to reduce the number of families without long term, affordable homes.
“A safe, secure home is the foundation for every family to build upon, so that they can achieve their goals and ambitions.”
Construction on the site has begun and is expected to be completed by 2025.