Related Argent, one of the largest privately-owned property and urban regeneration businesses in the UK, has today (8 November) announced a partnership with SNG (Sovereign Network Group) to deliver 50 new social rented homes at Brent Cross Town. This is the second phase of affordable homes at Brent Cross Town, following on from 120 affordable homes that are due to complete this year and will be managed by L&Q.
Jointly funded by SNG and the GLA (Greater London Authority), these 50 new social rented homes – classified as the most affordable type of housing – will be tenure-blind, sitting alongside a new Build-to-Rent (BtR) development at the heart of the 180-acre, £8bn park town being delivered in partnership by Related Argent and Barnet Council.
Grant funding for SNG came from the GLA Affordable Housing Programme 2021- 26. Barnet Council (LBB) helped to secure the grant funding and will have an ongoing role in the allocation of these affordable homes to those living in the borough. According to the Ministry of Housing, Communities and Local Government, the first half of 2024 has seen the lowest number of construction starts registered by housing associations in the capital since 1990, so these homes will provide a welcome boost to the delivery pipeline.
The delivery of the four new buildings, designed by dRMM Architects, will create a two-sided high street along the southern side of Merchant Street and opposite Audley Group’s later-living homes. Powered by the fully electric district energy network at Brent Cross Town – expected to be one of the biggest electric-only centres in Europe – the affordable homes will benefit from significant green credentials, as well as a shared podium garden with outdoor play facilities.
The homes are exceptionally well-connected, with the new Brent Cross West rail station a three-minute walk away and St. Pancras International in central London only a 12 minute train journey away.
Work will commence on site early next year with Midgard appointed as the main construction contractor. The new homes will be managed by SNG and occupied by residents of Barnet, with first move-ins expected by mid-2027.
Councillor Ross Houston, Barnet Council Cabinet Member for Homes and Regeneration, said: “We are committed to doing everything we can to deliver high-quality affordable housing options for people living in the borough. The first housing to be completed anywhere across the scheme provides homes for Council tenants and we now welcome the delivery of a further 50 much needed new homes for social rent. We look forward to them getting underway next year with more to come in the future.”
Tom Copley, the Deputy Mayor of London for Housing and Residential Development, said: “I’m delighted that 50 more new social homes are set to be delivered at Brent Cross Town, supported by grant funding from City Hall.
“This partnership between City Hall, Related Argent, Barnet Council and Sovereign Network Group embodies the Mayor’s mission to deliver more high-quality, genuinely affordable homes across the capital, helping to make London a better, fairer place for everyone.”
Matt Bird, SNG’s Regional Managing Director for London and East Region, commented: “Our purpose is to provide good, affordable homes so we’re delighted to be partnering with Related Argent and Barnet Council to deliver these homes for social rent. It also reflects our commitment to the London Borough of Barnet where we’ve delivered 100 affordable homes already this year, and have a further 286 affordable homes in construction. I’d like to take this opportunity to thank the GLA for providing important funding to help these homes come forward.”
Tom Goodall, Chief Executive Director of Related Argent, said: “This partnership with Sovereign Network Group to deliver 50 new social rented homes demonstrates our ongoing commitment to create a genuinely mixed, multi-generational and multi-tenure community at Brent Cross Town.
“At a time when the delivery of genuinely affordable homes in London is proving such a challenge for all parties, we are delighted to have worked with the GLA, Barnet Council and SNG to bring forward these much-needed new social rented homes.
“It is hugely important to us to create a thriving neighbourhood that is accessible to everyone and functions as more than just a place to live. We continue to deliver at an ambitious pace and look forward to seeing these homes and communities come to fruition.”
This next tranche of new affordable homes follows a recent partnership with NTT UD Europe Limited, a subsidiary of leading Japanese telecommunications company, NTT Group, to deliver the third Build-to-Rent (BtR) development at Brent Cross Town and the second building on this same plot, creating a further 226 new rental homes.
