Investor agrees to fund new rental homes scheme in Barking

Aberdeen Standard Investments has agreed to fund a £50 million new rental homes development in east London’s Barking, the fund manager said on Wednesday.

The investor has bought a former sports centre in Barking town centre from Barking and Dagenham council. Property developer Lindhill will work on creating 170 apartments there, of which 60 will be affordable.

It marks the latest build-to-rent deal for Aberdeen, which last month invested in a Stratford site. Property investors have been increasingly ploughing money into the sector in the UK. More people, particularly in London where it can be very tough to get on the housing ladder, are looking to rent homes for longer …

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