A Canadian pension fund and Australian developer are looking to sell 900 London apartments in Elephant & Castle, which would represent one of the biggest build-to-rent deals.
The Canada Pension Plan Investment Board and Lendlease are looking to offload the properties for at least £500 million, the Financial Times reports.
The apartments include retail and public space, with flats ranging range from studios to three bedrooms with amenities including a gym, lounge and landscaped gardens.
Lendlease partnered with the Canadian fund for the build-to-rent segment, the latter of which always planned to sell up after securing occupants.
The current biggest build-to-rent sale was in July 2025, when Vistry sold 1,750 homes to Leaf Living (backed by Blackstone) for around £600 million.
Firms like Blackstone and Greystar are looking to buy more properties in the build-to-rent sector, capitalising on demand at a time when some smaller landlords are being driven out of the sector amid uncertainties around new legislation like the Renters’ Rights Act.
Build-to-rent currently accounts for 2% of the private rented sector.