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TfL sets up for-profit RP with private landlord
Transport for London (TfL) has set up a for-profit registered provider as part of its long-term joint venture with large residential landlord Grainger.
Connected Living London (CLL), the name of the partnership between the two organisations, successfully registered with the Regulator of Social Housing (RSH) at the start of this month.
A spokesperson for TfL told Inside Housing that the new provider will own the affordable homes that are developed by CLL, which was established in 2019 with the aim of developing over 3,000 build to rent homes.
“This assists the joint venture in delivering tenure blind homes and a consistent and aligned service and management offering for all residents while also enabling CLL to retain the income from the affordable housing,” the spokesperson said.
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Across all sites residents of private and affordable homes will enjoy equal access to shared amenity spaces and benefit from the same professional management services, they added.
It comes at a time when TfL is struggling to deal with a fall in income as a result of Londoners using public transport less during the pandemic.
The transport body has a long term goal to develop 10,000 homes on the land it owns near transport hubs.
Earlier this month it confirmed CLL has received planning permission to build 351 homes next to Cockfoster Tube Station in north London.
It is the fourth of CLL’s schemes to be given planning permission, meaning the joint venture has now received planning permission for more than 1,400 homes. Each development will deliver 40% affordable housing.
Grainger is one of the UK’s largest listed residential landlords, owning and managing more than 8,000 rental homes.
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