Redrow and Peabody sign £50m build to rent deal

Redrow and Peabody have signed a £50m deal to sell 131 homes at a joint venture scheme in London’s Royal Docks to a build to rent investor.

The housebuilder and housing association said they had sold the homes at the £314m Pontoon Reach development to a joint venture between Pictet Alternative Advisors and Pinnacle Investments.

Redrow said the deal, included the sale of a mixture of studio, one-, two- and three-bed apartments within the 295-home scheme (pictured, left). It takes Pictet’s growing build to rent portfolio to more than 200 units.

Paul Muldowney, managing director at Redrow London, said the deal was “an exciting step forward for Pontoon Reach and the wider Royal Docks area and underpins our ambitions to create diverse and sustainable communities.”

Edward Jackson, Principal at Pictet Alternative Advisors, added “This attractive development, in close proximity to City Airport, Canary Wharf and The City will attract residents seeking well-located, high-quality and affordable homes.”