Inland Homes has started work on the construction of Patchworks, the regeneration of the former Homebase site in Walthamstow, on behalf of its partners London BTR Investments (LBTR) (the build-to-rent joint venture between EQT Exeter and Sigma Capital Group Limited) and Newlon Housing Trust (Newlon). Brownfield developer and housebuilder Inland Homes gained planning consent for the development of 583 homes in April this year. The site was then sold to LBTR with the remaining for housing association Newlon, with Inland securing build contracts to construct the homes on behalf of both parties.
This major regeneration scheme will deliver 355 private rented apartments under Sigma’s Simple Life London brand for LBTR and 228 affordable homes for Newlon. New commercial and community space, gardens and play areas, a cycle hub and pedestrian routes will also be delivered, creating a sustainable and integrated place to live. It is expected to be complete in 2025.
This strategy of securing land and planning before selling and building on behalf of third parties is a core part of Inland’s business model, playing to the team’s strengths of working in partnership and adding value. The deal with LBTR at Patchworks is Inland’s largest partnership housing contract secured to date at almost £90 million. Inland currently has a total of 1,257 homes under construction on behalf of partners.
Following demolition of the former Homebase store, construction has now begun on site. Inland Homes Group Managing Director Gary Skinner and Sigma Investment and Acquisitions Director Jack Barnet met on site last week ahead of groundworks starting on the first build to rent block.
“We are delighted that construction has begun at Patchworks in Walthamstow, with Inland working in close partnership with Sigma and Newlon to transform this brownfield site into a vibrant new community and deliver 583 additional new homes to the area,” said Gary.
“Both partners share our vision of high-quality regeneration and I am excited to see the scheme progress and deliver benefit for the whole community.”
Jack Barnet from Sigma said: “Patchworks is set to become one of LBTR’s flagship build-to-rent schemes, offering high quality rental homes under the Simple Life London brand. Having a reliable partner like Inland delivering it gives us assurance and it is exciting to see construction get started.”
Angela Wint, Senior Project Manager at Newlon Housing Trust, said: “Newlon are delighted to be working in partnership with Inland homes on this exciting new development, which will provide a further 228 much needed new affordable homes in Waltham Forest.”