Barratt London sells 311 affordable homes in Colindale

Barratt London has completed the sale of 311 affordable homes at its Colindale Gardens development to Legal & General (L&G). A significant portion, 158 of these properties, were provided in addition to the developer's planning obligations. The homes are intended for social rent and were finished in December. The Colindale Gardens project is situated on the site of the former Hendon Police College.

Addressing Housing Pressures

The transaction is expected to accelerate the provision of affordable housing in the capital. Craig Carson, regional managing director at Barratt London, stated that the agreement demonstrates how developers and private sector partners can collaborate with local government to meet the demand for affordable homes and funding in London. He added that the deal reinforces Barratt London's existing relationship with L&G and supports the creation of a more inclusive community in a developing area of the city.

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Ali Farrell, senior fund manager at L&G, expressed satisfaction with the investment, noting that it aligns with the objectives of their Affordable Housing Fund, launched in 2024. Farrell described the scheme as the largest single grant-enabled social rented affordable housing project delivered in London over the past twelve months, predicting it will significantly benefit local families currently in temporary accommodation or on social housing waiting lists. L&G Affordable Homes will manage the properties.

Councillor Ross Houston, deputy leader of Barnet Council and cabinet member for homes and regeneration, highlighted that affordable housing remains a critical challenge in Barnet, with demand exceeding supply. He commented that the delivery of these new social rent homes at Colindale Gardens marks a substantial move towards closing this gap. Houston also noted that such developments, achieved through close collaboration with partners to speed up construction and delivery of genuinely affordable housing, assist local residents in securing permanent homes and establishing roots in their community.

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The Colindale Gardens development is planned to eventually comprise 4,041 homes, with 1,200 of these designated as affordable units. The wider site includes nine acres of landscaped green space, a new four-acre park, and facilities for a 600-pupil school to be operated by Saracens Rugby Club.