Arada London has agreed the forward-sale of 136 affordable homes across Camden to housing association Clarion Housing Group for an undisclosed price.
The social rent homes will be built by Arada’s in-house construction arm across three of the company’s development sites and will be designed to meet Clarion’s social rent quality standards.
The agreement includes 79 affordable homes at 100 Avenue Road, Arada London’s recently launched development near Regent’s Park and Hampstead Heath, which will feature a total of 172 new one-, two- and three-bedroom apartments. It also includes 30 affordable homes at 100 Chalk Farm Road and 27 homes at Jamestown Road, Arada London’s joint venture with 4c Hotel Group.
Jonathan Seal, CEO of Arada London, said: “This strategic partnership with Clarion sees three of our development sites take a significant step forward, providing new housing in a borough experiencing an urgent shortage of supply. Our integrated model enables us to take developments through the full delivery process, from masterplanning and design to construction, making us an attractive partner that can deliver at speed and scale. We look forward to working closely with Clarion as we deliver these new homes.”
Richard Cook, chief development officer at Clarion Housing Group, added: “We are pleased to be partnering with Arada London on this deal, which will deliver 136 new social rent homes for Camden. There is an urgent need for more genuinely affordable housing across London, and partnerships like this play an important role in increasing supply. By combining Arada London’s development expertise with Clarion’s long-term stewardship, we’re creating high quality homes that will remain affordable for generations to come, helping more people put down roots in the communities they call home.”
