Legal & General’s Suburban Build-to-Rent business (LGSBTR) and Cala Homes have agreed an exchange of 107 homes at the latter’s 1,000-home Buckler’s Park scheme in Crowthorne.

It is the first forward funding transfer between LGSBTR and the housebuilder, which are both owned by Legal & General Capital.

The 107 two and three bedroom homes are expected to be completed in 2025 and will have  electric vehicle charging points and air source heat pumps to meet new standards. The overall scheme will include community and sports hall, nursery, café, flexible meeting spaces and a new primary school.

David Reid, managing director of LGSBTR, said: “Demand for new homes remains high across the country, so it is vital to keep investing in and developing multi-tenure offerings to suit the diverse needs of housing customers.

“At Legal & General SBTR, we aim to deliver the high-quality housing stock with reliable customer service needed to meet this demand, and we are thrilled to be collaborating with Cala Homes on the Buckler’s Park site in Crowthorne.

“We look forward to continuing our relationship with Cala to deliver much-needed homes for rent across the UK and to build upon the synergies between the L&G housing businesses.”

John Richards, land & planning director of Cala Homes Thames, said: “We’re delighted to work with our colleagues at Legal & General SBTR to broaden the tenure mix and accelerate delivery of much-needed homes in Crowthorne.

“Buckler’s Park is an excellent example of brownfield regeneration – we’re meeting local needs by building a range of high-quality dwellings, from one-bedroom apartments up to five-bedroom homes, and now LGSBTR is delivering homes for rent too.

“Projects like Buckler’s Park demonstrate the opportunity for collaboration between Cala and Legal & General’s other housebuilding businesses to deliver high-quality homes across a wider range of tenures, on the same site for local community benefit.”

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