Barking Riverside development combats increasing rental prices with new homes

With rental prices in London reaching their peak in recent months, renting a home in the capital is viewed as a challenge for many hopeful tenants; prices of rental homes in Greater London are now 70 per cent higher than the UK average.

Helping to combat the demand for rental homes at accessible prices in the capital, L&Q has launched a new phase of contemporary one, two and three-bedroom apartments at Barking Riverside, with prices starting from 43 per cent less than the capital’s current average.

Lukman Ahmed, PRS and commercial director at L&Q, commented: “We know the demand for rental homes is high, and prices have been increasing at a rapid rate, particularly in Barking, which has seen one of the highest average price increases of all London boroughs in recent months.

“We saw huge demand for the first two launches of rental homes at Barking Riverside, and expect just as much excitement for the latest phase, the location, community, specification and value for money make this a highly desirable development for those looking for a stable tenancy in the capital.”

Barking Riverside is a joint venture between L&Q and the Mayor of London and L&Q’s newest PRS development at Barking Riverside further demonstrates its commitment to being long-term stewards of the area, bringing forward a “thriving” new community and the necessary infrastructure.

L&Q’s newest development adds to the organisation’s growing collection of build to rent homes across the capital, adding a positive contribution to London’s rental supply and helping to alleviate shortages in areas with high demand.

New residents benefit from a wide range of amenities at Barking Riverside. A short walk from L&Q’s new private rental homes is The Wilds, an ecology, community and events space which includes its own café, GROUNDED, as well as co-working spaces, intended for young professionals seeking an alternative to working from home.

Well connected for commuters, from the Barking Riverside station, the new Overground route offers journey times of just 22 minutes into Central London. Further connections via the Hammersmith and City line, District line, and the C2C services all run from nearby Barking Station, which is just a 7-minute journey from Barking Riverside.

Plans are underway for a new Wellbeing Hub, which will be built by the London Borough of Barking and Dagenham. Appealing to eco-conscious renters, Barking Riverside is home to an “innovative”, sustainable and effective waste collection system by Swedish company Envac, promoting a clean and pleasant living environment.

By Matthew Neville – Senior Correspondent, Bdaily

• Add me on LinkedIn and Twitter to keep up to date
• And follow Bdaily on Facebook, Twitter and LinkedIn
• Submit press releases to editor@bdaily.co.uk for consideration.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →