Get Living, the pioneer of large-scale build to rent neighbourhoods in the UK and Watkin Jones, the country’s leading developer and manager of residential for rent homes, have agreed a c.£71million forward funding deal to deliver 214 new rental homes at Randalls Way, Leatherhead.
The development will be the first operational BTR scheme in Leatherhead, which offers future residents well-managed, quality rental homes with the green space of the River Mole Nature Reserve and Leatherhead Park on the doorstep.
On completion, it will offer one, two and three-bed apartments, including 36 discount market rent homes alongside 3,000 sq ft of resident amenity space and extensive landscaped gardens. The Home Quality Mark ‘Very Good’ development is well positioned for sustainable transport, located seconds from Leatherhead railway station, offering access to Central London in under an hour and the open spaces of Box Hill in five minutes.
This is Watkin Jones and Get Living’s second deal since April, where the organisations agreed a £136million forward funding deal to deliver 551 BTR homes at Sherlock Street, Birmingham.
Rick de Blaby, CEO of Get Living, said: “To help solve the housing crisis in a sustainable manner, it’s important for the development sector to find solutions on brownfield land. With Watkin Jones, we have an ongoing partnership with one of the UK’s most professional and enterprising developers.”
“Get Living continues to set the standard for exemplary build to rent neighbourhoods and it is our responsibility now, with Watkin Jones, to create a compelling new rental offer in a brilliant new neighbourhood.”
Alex Pease, chief investment officer of Watkin Jones, added: “This scheme is another example of our remarkable track record of breaking new ground and introducing BTR into new locations. Leatherhead has all the fundamentals of a great place for future residents, and we’re certain they will enjoy a fantastic life there.”
The Randalls Way development will be Get Living’s ninth neighbourhood and second suburban BTR site, marking their growing presence across the UK with a portfolio of 4,000 operational homes and over 6,500 in the pipeline. The neighbourhood will be managed and operated by Get Living, with the scheme expected to complete in early 2025.
