Colindale Gardens is a significant regeneration scheme in North West London occupying 42 acres of brownfield land at the site of the former Peel Police Training Centre. The scheme comprises 26 residential blocks and a school.

The developer is a traditional homebuilder with little experience of the private rented sector (PRS). TFT has been appointed to fill this gap by providing Development Monitoring and Client’s Representative services for the forward-funding of a 214,650sqft block of 186 apartments, which will be retained and operated as build-to-rent (BTR).

TFT appraised the development with a focus on long-term investment value and quality of asset, and in consideration of the following primary operational requirements on behalf of M&G:

• Amenity space and services available to end users
• Build quality and materials for low maintenance and running costs

Along with our typical review of planning, statutory matters, pre-build investigations and surveys, suitability of team, building contract etc., TFT also advised on:

• Technical specifications, specifically any shortfalls or omissions in the design
• Various aspects of the Funding Agreement
• The proposed documents to be appended to the Funding Agreement (to protect M&G’s position)
• Reliance to be sought from various appointments, reports, and investigations
• Leading the variation and approval process between the developer and M&G’s residential team, and facilitating numerous investor-led variations, from internal upgrades through to the introduction of a communal roof terrace
• Procuring the appointment of a design team and driving the programme for the fit-out of
  a communal games area, co-working space, and bar
• Acting as M&G’s representative in connection with proposed design changes, material substitutions, statutory obligations, and extension of time matters

For further information on this project and  to find out more about TFT’s BTR offering , get in touch with Mike Duck.