Halcyon Development Partners (‘Halcyon’) and DTZ Investors’ Folk Co-Living Fund (‘Folk’) are set to deliver 352 co-living homes at Brent Cross Town, following completion of the land acquisition from Related Argent and Barnet Council. Of these, a number will be dedicated to care leavers at discounted rent, providing vital support for young people in need.
This marks the latest milestone at the 180-acre, £8bn park town, which is now home to approximately 2,000 residents, with more than 250 additional new homes under construction, being delivered by Related Argent.
This co-living project, which received planning permission in July last year, will offer a diverse selection of internal and external amenity spaces for residents. These include contemporary workspace areas, a wellness spa, and a rooftop kitchen exclusively for residents, all managed by Folk.
Situated near Merchant Street – Brent Cross Town’s new high street – and adjacent to Neighbourhood Square at the centre of the town, Folk’s residents will benefit from a prime location just a few minutes’ walk from Brent Cross West rail station, offering direct connections to St Pancras International in only 12 minutes.
The building will sit at the heart of a new intergenerational living quarter which will be neighboured by later living homes, build-to-rent, affordable housing, student accommodation and homes for private sale.
The development will be the fourth collaboration between Halcyon and DTZ Investors and follows the success of previous award-winning sites in the capital, including the RIBA award winning Sunday Mills Co-living development in Earlsfield.
With a main contractor now engaged, Halcyon and Folk are making final preparations to commence construction of the Co-living development in Q3 this year.
Nik Dyer, Development Director at Halcyon, said: “Following completion on the land acquisition we are looking forward to starting the delivery of what will be another outstanding co-living building with Folk. Brent Cross Town is emerging as an exciting and vibrant new neighbourhood for London, and we look forward to our first residents moving in following construction”
Danielle Wythe, Folk Investment Director at DTZ Investors said: “We are delighted to recognise this milestone in our journey to bring our market leading Folk co-living offer to Brent Cross Town. In partnership with Halcyon, the scheme design incorporates actual real-time resident data, feedback and operational experience from our portfolio to create a truly best in class co-living asset, adding to the vibrant range of accommodation options available in this inspiring masterplan.
Oli Rifkind, Chief Development Officer, Related Argent said: “This deal continues to meet our long-term aspirations of bringing in key partners to support our site wide ambitions – creating a destination that provides for all generations. Brent Cross Town continues to be at the forefront of residential development in London, even as the sector faces significant challenges. This milestone marks another step forward and will be very complementary to the build-to-rent, the market for sale, and the affordable housing that Related Argent continues to deliver.”
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