Barratt London has agreed the sale of 311 affordable homes at its Colindale Gardens development to Legal & General (L&G), with 158 of these homes being in addition to planning requirements to accelerate the delivery of urgently needed affordable housing in the capital.
The 311 homes acquired by L&G will be used for social rent, alleviating affordable housing pressures in Barnet. Working closely with the London Borough of Barnet, Barratt London completed on the homes in December.
This deal is the latest between Barratt London and L&G, building on a longstanding relationship that has delivered affordable homes across London.
The homes have been acquired by L&G’s Affordable Housing Fund, launched in 2024 to deliver societal benefit through new homes in England alongside stable, inflation-linked returns for institutional investors. The homes will be developed and managed by L&G Affordable Homes, a registered provider established in 2018 to provide affordable housing options across the UK.
Located on the former Hendon Police College, in Zone 4 and within easy access of central London, Colindale Gardens is one of London’s largest regeneration projects and will deliver 4,041 homes across the full development, including 1,200 affordable homes. Set within nine acres of landscaped green space, including playgrounds and a new four-acre park, 2,888 homes have been delivered across the site to-date.
The wider development includes £11million upgrades to Colindale Underground station, which reopened in December after two years of improvement works, a 600-pupil primary and junior school to be operated by Saracens Rugby Club and 10,000 sq ft of mixed-use commercial space for shops, cafés and restaurants.
Colindale Gardens is a key component in the Colindale/Burnt Oak Opportunity Area (OA), designated as part of the Mayor’s London Plan to create more homes, jobs and improve infrastructure across the capital. There is the potential for 7,000 new homes and 2,000 new jobs by 2041 across the OA.
Craig Carson, regional managing director at Barratt London, said: “This agreement exemplifies how homebuilders and private sector partners can work together with local government to provide the urgently required affordable homes and funding London needs. Building on our strong existing relationship with L&G, the provision of affordable homes with excellent transport links will help create an inclusive community in a fast-growing London neighbourhood.”
Ali Farrell, senior fund manager, L&G, said: “We are delighted to make this investment into much-needed affordable housing in London, delivering on the objectives of our Affordable Housing Fund. This scheme represents the single largest grant-enabled social rented affordable housing scheme delivered in London in the last 12 months, and will make a meaningful difference to local families in temporary accommodation and social housing waiting lists.”
Cllr Ross Houston, Barnet Council deputy leader and cabinet member for homes and regeneration, said: “Affordable housing remains one of the most pressing challenges in Barnet, where demand continues to outstrip supply. The delivery of these new social rent homes at Colindale Gardens represents a meaningful step in addressing that gap.”
“By working closely with partners to accelerate the construction and delivery of genuinely affordable homes, developments like this help ensure more local residents have a permanent home and can put down roots in their community.”
