Fantastic news as another project moves forward in London. HG Living has signed a deal with Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, to develop PIC’s third Build-to-Rent project.
The £80m investment by PIC will see a brownfield site in central Milton Keynes transformed into 306 new BtR residential apartments, 43 of which will be affordable housing, including onsite tenant amenity space.
The development will involve the demolition of an existing vacant office block with HG Construction as the main contractor on the scheme, which is due to complete in Q3 2024.
The Milton Keynes development is on the site of a vacant office block known as ‘Bowback House’ and is targeting a 4* Homes Quality Mark rating, a minimum gold WiredScore rating and all apartments to achieve a minimum EPC rating of ‘B’ and will use Air Source Heat Pumps for hot water and green electric for heating. The development also includes solar panels, which will help the transition to a Net Zero economy.
As part of this, EDC is working closely with our delivery partners HG Living & HG Construction to coordinate the smooth delivery and installation of the MEP services. This includes providing an energy-efficient hot water air source heat pump system in each dwelling that utilises a fabric first approach and PV technology to achieve the Part L & CO2 reduction targets.
The heat pump can produce hot water very efficiently as it extracts heat from external air supplied via insulated ductwork, which is available as an accessory. Due to the high efficiencies, the cylinder reduces the Dwelling emissions in SAP making it possible to pass using electric space heating and the Edel cylinder.
Once complete, the building will provide c.25,500 square feet of external amenity space and c.10,000 square feet of internal retail/amenity space for residents, anticipated to include 24-hour concierge, residents’ lounge, gym, fitness studio, sky lounge and multi-use games room.
PIC was advised by Addleshaw Goddard, CBRE, HAALO Ltd and RPS. HG Living was advised by Forsters LLP.
Architect rg+p Ltd.
Engineering Design Structure and Civils – Alan Johnston Partnership
Fire Engineering Orion Fire Engineering
EA / QS Rund Partnership Limited
Approved Inspector Bureau Veritas Group