This year has been predicted by some to see a slowdown in the construction sector due to a weaker housing market and high inflation hitting construction material prices. But demand for building supplies in London remains high, with a number of schemes in the pipeline.
Among these are two major residential projects in Brent Cross, a joint venture by Related Argent and Invesco Real Estate. They have appointed Galliford Try to deliver a £75 million scheme to build three blocks containing 249 build to rent (BTR) homes, while Midgard has been appointed to deliver another residential building with 107 units for sale.
Midgard is already working on a 170-home building, called the Delamarre, as part of the wider masterplan for the site. These homes will also be for market sale.
Brent Cross is one area where there is no let-up in the speed of construction. The 180-acre regeneration of the district will see 7,000 new homes being built as well as new offices, a rejuvenated high street, new schools, parks and a first out-of-town campus for Sheffield Hallam University, along with student accommodation.
Head of residential at Argent Tom Goodall said: “The start of construction on the new BT homes and additional market sale homes adds to the momentum behind Brent Cross Town, creating a thriving new community of residents.”
While many residential projects are taking place in London, some others have stalled. But that does not mean no building work will be taking place, as in some cases projects have been amended to switch to meet other priorities, such as the need for more student accommodation.
As Construction Enquirer has reported, developers Sellar and Regal London have both recently made significant changes to their schemes. In the case of Sellar, a mixed hotel and residential project in Southwark has been dropped in favour of a 444-room student block.
Regal London’s modified Devonshire Place housing scheme on the Old Kent Road will still include 220 affordable homes, but will also now feature 900 student rooms.