Legal and General BTR Fund | Assael
Industrial revolution, energised regeneration.
Previously the site of a rundown industrial estate, the redevelopment of Ferry Lane provides 480 new private rental sector (PRS) affordable homes, along with 20,000 square feet of commercial opportunity and community spaces. As one the first private rental sector developments for Legal and General, we used our extensive experience in the sector to ensure the client had a team with trusted market knowledge. Originally brought on to review the scheme’s energy strategy, our engineers identified several shortfalls that would impact expected energy savings.
The previously defined energy strategy had hoped to provide a local onsite energy centre for the standalone development. However, among our range of proposed solutions, we identified an opportunity to instead connect the scheme to the existing local Black Horse Road district heating network. Negotiating with the supplier, we agreed an energy rate and were able to deliver a solution that removed all billing obligations, ongoing maintenance costs, and administration from the client.
But the advantages didn’t stop there. By removing the requirement for an onsite energy centre, our revised designs made space for an additional 40 apartments that could be added into the scheme. Designed to achieve Home Quality Mark Level 2, achieve energy savings 36 percent below Part L 2013, and meet BREEAM Excellent for the commercial areas, the project stays true to its sustainable aims. Our engineering solutions, which are specific to the development, also allowed us to minimise operational costs over the project’s lifecycle where possible, and provide Legal and General with a unique market-ready scheme.