Market Leads & Opportunities
Telford Homes scheme sold for £48.6m
Hertfordshire-based residential property developer Telford Homes has exchanged contracts for the sale of its third build-to-rent development for net consideration of £48.6m.Located on Redclyffe Road, London E6, The Forge has been purchased by M&G Real Estate. It has full planning permission for 192 new homes including 67 affordable homes, which have been sold to a housing association in a separate transaction. The development is currently under construction and is anticipated to be completed in 2019.The sale to M&G is on a forward funded basis and will comprise an initial land payment followed by regular payments throughout the construction period and therefore will not require debt finance with limited equity to be invested by the group.
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