Lands Improvement transacts on first BTR parcel with Dandara, and Neighbourhood Centre plot at Linmere for over £20m
We have completed on a 189-unit parcel with Dandara who will deliver a 100% build-to-rent scheme, supporting the strategic mixed-tenure approach taken at Linmere to promote market absorption. It is the first provision of a standalone BTR scheme within the wider masterplan and has been forward funded by Aviva Investors. Packaged Living will operate the completed scheme on its behalf.
The second parcel, sold to Brickhill, is the Neighbourhood Centre. A pivotal part of the masterplan, the Neighbourhood Centre complements neighbouring Green Park and a new primary school to create a public square at the heart of the phase. It includes a convenience store, three retail units and 43 affordable residential units, with Hightown Housing Association taking the built stock. It also includes a new nursery which has been pre-let to Child Base, which will complete the education offering in the area for families with primary and secondary facilities also provided.
Linmere is being brought forward by the Houghton Regis Management Company (HRMC), a consortium comprising Lands Improvement, Aviva and the Diocese of St Albans. On behalf of its consortium partners, Lands Improvement is leading on the development.
The wider Linmere development will ultimately deliver up to 5,150 homes, 1.25 million sq. ft of distribution space and up to 1 million sq. ft of retail, office and leisure development, together with associated open space, schools and community facilities. 550 homes have been already completed at Linmere by Barratt, David Wilson, Bellway, bpha and Stonebond. Lands Improvement are investing £20m to service the latest phase of 1,100 units, with further land sales lined up for later in the year.
James Stone, Managing Director of Lands Improvement said: “Both of these transactions mark a step forward in the creation of a fantastic new community at Linmere. The Neighbourhood Centre sits at the heart of the development and will be an important contributor to the ongoing vitality of this place for the residents and businesses that choose to make Linmere their home. Likewise, the provision of high-quality build-to-rent homes is an exciting addition as part of our mixed tenure approach. It will help to attract an even broader range of residents, and we look forward to seeing both of these developments take shape within the wider masterplan.“
Construction of the Neighbourhood Centre has started and is expected to be completed early 2026.