Planning consent has been granted for a £60 million build-to-rent scheme in London.

Residential property owner Grainger is proposing to deliver 163 new homes in Seven Sisters, North London.

The 22-storey 'Apex House' scheme has been designed by architects John McAslan + Partners and includes flexible commercial space as well as streetscape improvements. In addition, over 400 jobs will be created throughout the construction and operational phase.


Work is expected to get underway in 2017 and the units are expected to be fully let in 2020.

The development is located adjacent to Grainger's Seven Sisters Regeneration scheme, which has planning consent and will deliver a further 196 rental homes, following a Compulsory Purchase Order process which is currently being undertaken by the local authority.

In addition, the company recently secured a £40m PRS deal of a former Yorkshire Post site in Leeds.

Helen Gordon, Chief Executive, said the Board is pleased with the "significant progress" being made by Grainger.

"We have seen a strong and resilient performance despite the changes to stamp duty legislation and the EU referendum, and we look forward to providing further details on strategic progress at our full year results in December," she said.

(LM/MH)