Related Argent has formed a joint venture with NTT UD Europe, a subsidiary of Japanese telecommunications company NTT Group, to deliver a £200m+ GDV build-to-rent (BTR) development at Brent Cross Town.
The joint venture will bring forward 226 new rental homes across three blocks located in the heart of the 180-acre, £8bn park town, which is being delivered in partnership by Related Argent and Barnet Council.
The new BTR homes, designed by dRMM Architects, will span either side of the new high street. Construction is expected to start in Q4 2024.
Tadashi Ito, managing director of NTT UD Europe, said: “We believe that our investment in the Brent Cross Town development will not only positively impact the local area but also bolster the London BTR market, demonstrating our confidence in the UK market. Working with a partner like Related Argent, who possess extensive experience both nationally and internationally, represents a significant step for us, and we look forward to this joint venture partnership with them.”
Tom Goodall, chief executive of Related Argent, added: “We are delighted to partner with NTT Group, one of the world’s leading telecommunications companies, to deliver our third major BTR development at Brent Cross Town. The JV demonstrates our commitment and ability to partner with world-leading global capital which shares our social value and sustainability goals.
“Bringing forward these new rental homes demonstrates the significant momentum at Brent Cross Town, where seven plots are now under construction, London’s first new rail station in over a decade is open and the first residents are set to move in this summer. It is truly becoming a flourishing net zero park town for London.”
GreenPlace Partners (GPP) is acting as advisor to NTT UD Europe. Oli Rifkind, executive director at Related Argent, led for the company on the creation of the joint venture.
