- First 400 residents have moved into one of the largest build-to-rent developments in the UK
- The £400m development in Wandsworth includes a 25m pool, hi-tech gym and fully furnished apartments, setting a new standard for renters
- Creating spaces for over 25 independent brands with a new, retail and hospitality offering for the community
Legal & General Investment Management (LGIM) has crossed the halfway development completion milestone for its flagship £400m build-to-rent development in Wandsworth, New Acres.
Located 400 metres from Wandsworth Town station, New Acres is set to transform a six-acre area with the delivery of 1,035 much-needed, high-quality homes.
Whilst only at the halfway point, the development is experiencing significant demand with over 268 homes being let to date.
When complete later this year, New Acres will represent one of the largest purpose-built rental developments in the UK including homes, over 25 independent shops, hospitality businesses, workspaces, markets, public areas and an events programme for residents and the local community.
Resident-first, build-to-rent living
New Acres has a mix of one, two and three bedroom apartments, with resident-first policies giving the flexibility to make rental properties feel like home including; the option to have homes fully furnished; the ability to decorate to their taste; flexible contract terms and pet friendly policies – with New Acres already being home to 16 resident pets. With many of these perks being traditionally linked to home ownership, interest in renting New Acres homes has surged since launch with more than 1,800 enquiries to date.
New Acres also offers residents a host of lifestyle amenities, including a heated 25m outdoor lido; private dining rooms for hosting personal events; a hi-tech gym; and dedicated spaces to work in.
Dan Batterton, Head of Residential, at Legal and General Investment Management, added: “At New Acres, we’re defining a new standard of rented living, bringing together stylish homes, independent creative businesses, events and experiences in a consciously curated way. We hope this significant regeneration project will deliver much needed homes to Wandsworth while supporting job growth and the local economy.”
A home for independents
With an ambition to establish New Acres as a neighbourhood in its own right, LGIM is making significant investments in the ‘ground floor’ of the development. Once complete, New Acres will be creating one of the first brand new neighbourhoods dedicated to independent businesses and start-ups, animating over 50,000 sq ft of commercial space with generous support packages for inaugural commercial occupiers.
With space to host businesses ranging from restaurants and bars through to independent retailers, service businesses and amenities, a dedicated ‘curation team’ led by Denz Ibrahim, Head of Future Place & Activation, has been formed to find and support exciting emerging businesses in the UK.
Supporting the community
New Acres also demonstrates LGIM’s commitment to supporting the communities in which it invests, and is improving access to much-needed affordable homes in Wandsworth through the development. Around 35% homes have been reserved for affordable-housing tenants.
