The development consists of 84 new homes across two sites and it is anticipated that development will commence in a year.
Over half of the homes on the two sites will be solely for the private rented sector and will be managed by Grainger over a 125 year agreement, with the Royal Borough of Kensington and Chelsea holding the freehold. There will also be affordable housing provision within the development.
"This innovative scheme will provide much needed homes for a variety of tenure types in central London, and I believe this could become an appropriate model for other local authorities and developers to adopt who are looking to provide homes for the private rented sector," said Grainger chief executive Andrew Cunningham.
