Media & News

Long Harbour invests in new residential development in North West London with St George

04 October 2023

Long Harbour has agreed to forward purchase a 370-home Build-to-Rent (“BTR”) development with accompanying amenity space within Beaufort Park, a popular neighbourhood in Colindale, North West London.

This acquisition is part of the Long Harbour Multi-Family Joint Venture 2 (“LHMF 2”) with the Public Sector Pension Investment Board (PSP Investments) and Cadillac Fairview/Ontario Teachers' Pension Plan (OTPP) which targets best in class Multi-Family schemes of over 150 units in London, the Southeast and selected regional cities. All of LHMF 2’s properties are operated by Way of Life, an award-winning management platform with a strong focus on delivering LHMF 2’s ESG agenda and GRESB targets. As the development becomes operational, Way of Life will launch its “Community Life” programme for residents and the wider local community.

Long Harbour is pleased to partner with St George, part of The Berkeley Group, a specialist in reviving complex brownfield regeneration sites. The company has clearly defined commitments to climate action, nature recovery and strengthening local communities, which closely reflect Long Harbour’s ESG priorities.

The homes will form the final phase of the wider Beaufort Park masterplan Construction is already underway with phased handover scheduled for 2025 – 2026. Long Harbour has worked extensively with St George to define an exemplar BTR product. The scheme will include over 10,000 sqft of private amenity with a focus on well-being, community and private green spaces.  

Beaufort Park was once part of the RAF Hendon Aerodrome and prior to that was one of the first civilian airfields. This long-term brownfield regeneration project has transformed the site and wider area into a well-established community of more than 3,500 private and affordable homes with generous open green space and children’s play areas. The beautiful garden square with a traditional bandstand will be a hub of the community, hosting large events such as the annual Beaufort Summer Party and Christmas Carol Concert.

The neighbourhood is designed with a network of walking and cycling routes to promote healthy active travel and includes 100,000 sqft of commercial space, including a pub, nursery, local shops, and offices which support hundreds of local jobs.

Set in 25-acres with a landscaped parkland at its heart, situated in North West London, Beaufort Park is less than a mile away from Colindale Station, 20 minutes to Euston and just a few stops from Hampstead and Camden Town.

Savills advised Long Harbour and CBRE advised St George.

James Aumonier, Chief Operating Officer at Long Harbour, said “Having launched two assets this year, we are delighted to announce the acquisition of Beaufort Park and add this to our best-in-class portfolio. This demonstrates our ongoing conviction in the UK Multi-Family sector and London as a global hub. BTR will be vital to the supply of housing for the next 10 years, and we continue to work with partners in delivering high quality homes for rent.

Piers Clanford, Chairman of St George PLC, said: “We are delighted to be partnering with Long Harbour to deliver the final phase of the Beaufort Park masterplan and bring more high-quality homes, jobs and opportunities to the Colindale community. 

“At The Berkeley Group we believe regenerating brownfield land, like this former aerodrome site, is the most sustainable way to solve the housing crisis, strengthen local communities and re-energise our towns and cities. Long Harbour share that vison and we are proud to be working with them to secure the long-term growth and investment London needs.”

About LHMF 2

Beaufort Park is the latest investment opportunity to be secured by LHMF 2 and follows the separate acquisition of a site in the heart of Walthamstow where Long Harbour are developing a £260mn scheme delivering 495- BTR homes. In March 2023, LHMF 2 also completed the £110m forward purchase of Riverstone Heights, a 204-home BTR  development within the Leaside Lock masterplan, Tower Hamlets.