The development project, located in an area which is undergoing significant regeneration, will be delivered through a forward funding structure with Taylor Wimpey. Completion is expected in 2027, a year that will suffer from an acute shortage of new homes in London based on recent construction starts data.

This investment contributes towards the Fund’s long term objective of delivering 5,000 rental homes across the UK’s major urban centres. To date, the Fund has raised £375 million of equity from UK pension schemes, with a target fund size of £800 million.

David Peacock, Director at Heim, said:

“Poplar represents exactly the kind of opportunity we are targeting – well-located, regeneration-led, and capable of delivering high-quality rental homes for median income earners. The transaction is well-aligned with the Fund’s strategy and we are pleased to be partnering with such a strong developer in Taylor Wimpey. London is suffering from a severe lack of construction starts, so we are confident we will be delivering this scheme at a time of very low supply. ”