Asset manager L&G has acquired 311 affordable homes on the site of the former Hendon Police College in north-west London from developer Barratt London, for an undisclosed sum.
The homes at Colindale Gardens, acquired by L&G’s Affordable Housing Fund, will be used for social rent and managed by L&G Affordable Homes.
A Barratt London spokesman confirmed that Redrow had acquired planning consent for the homes before Barratt Developments bought the housebuilder for £2.5bn in August 2024.
Barratt London said 158 of the homes were developed in addition to agreed planning requirements “to accelerate the delivery of urgently needed affordable housing in the capital”.
Ali Farrell, senior fund manager at L&G, said: “We are delighted to make this investment into much-needed affordable housing in London, delivering on the objectives of our Affordable Housing Fund.
“This scheme is the largest grant-enabled, social rented affordable housing scheme delivered in London in the past 12 months and will make a meaningful difference to local families in temporary accommodation and on social housing waiting lists.”
Craig Carson, regional managing director at Barratt London, added: “This agreement exemplifies how homebuilders and private-sector partners can work together with local government to provide the urgently required affordable homes and funding London needs.”
Ross Houston, Barnet Council deputy leader and cabinet member for homes and regeneration, said: “Affordable housing remains one of the most pressing challenges in Barnet, where demand continues to outstrip supply. The delivery of these new social rent homes at Colindale Gardens represents a meaningful step in addressing that gap.
“By working closely with partners to accelerate the construction and delivery of genuinely affordable homes, developments like this help ensure more local residents have a permanent home and can put down roots in their community.”
The wider Colindale Gardens development is one of London’s largest regeneration projects and will provide 4,041 homes, 1,200 of them affordable, according to Barratt London. It said 2,888 homes have been completed across the site to date.
The wider development includes £11m upgrades to Colindale Underground station, which reopened in December after two years of improvement works; a primary and junior school, to be operated by Saracens Rugby Club; and 10,000 sq ft of mixed-use commercial space for shops, cafés and restaurants.
Colindale Gardens forms part of the Colindale/Burnt Oak Opportunity Area, designated as part of the Mayor’s London Plan to create more homes, jobs and improve infrastructure across the capital.
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