Japanese Investor Backs Related Argent BTR Scheme To Tune Of £200M
Related Argent has formed a joint venture with NTT UD Europe, a subsidiary of Japanese telecoms company NTT Group, for the latest phase of its build-to-rent scheme at Brent Cross Town.
Construction is expected to start in Q4 of this year for 226 BTR homes across three blocks located within the £8B, 180-acre park town being delivered in a partnership between Related Argent and Barnet Council.
Amenities will be shared across the two adjacent BTR buildings, one of which is being funded by Invesco, and include roof terraces, private dining, work-from-home spaces, BBQ areas, gardens, guest suites, a screening room plus a wellness hub which includes a large gym, fitness studios, a 25m pool, sauna and Jacuzzi. The development will also include around 6.5K SF of retail space.
Designed by dRMM Architects, it will overlook Brent Cross Town’s first permanent park, Claremont Park, and will sit opposite the circa 150 later living homes from Audley Group’s Mayfield Villages in partnership with Senior Living Investment Partners.
“We believe that our investment in the Brent Cross Town development will not only positively impact the local area but also bolster the London build-to-rent market, demonstrating our confidence in the UK market,” NTT UD Europe Managing Director Tadashi Ito said in a statement.
“Bringing forward these new rental homes demonstrates the significant momentum at Brent Cross Town, where seven plots are now under construction, London’s first new rail station in over a decade is open and the first residents are set to move in this summer,” Related Argent Chief Executive Tom Goodall added in the release.
This joint venture represents NTT UD Europe’s largest UK investment at one of Europe’s largest regeneration projects where, over the next 20 years, 6,700 new homes, student housing and homes for later living will be constructed, alongside workspace for 25,000 people, a new high street, schools and 50 acres of parks and green space as part of a net zero carbon park town.
Currently, over 930 homes, including affordable, market sale and BTR homes, are on-site, along with 662 student rooms in partnership with Fusion Students.
Related Argent has two other BTR schemes underway: Author King’s Cross, which took its first residents in autumn 2023, and Tottenham Hale, which started construction in Q4 2023.
Author King’s Cross includes 182 BTR homes across three buildings in a mix of one, two and three-bedroom apartments located at 180 York Way. The scheme has been delivered in partnership with The Olayan Group and King’s Cross Central Limited Partnership, the freehold owner of the King’s Cross estate. KCCLP backers include AustralianSuper, Federated Hermes and Argent investors.
Related Argent also previously agreed on a £243M loan with ICG to deliver a 484-home BTR scheme in Tottenham Hale, the second and final phase of the 3.5-acre Heart of Hale regeneration project by Related Argent, with completion due in Q4 2026.
The residential project is being delivered alongside new public spaces and squares, leisure and retail. The total £600M development has been developed in partnership with Haringey Council and will also feature a major new pedestrianised civic space as part of the Tottenham Hale masterplan.
