Residential landlord Grainger has agreed to forward fund and acquire the first 108 home private rented sector phase for £41m.

The developer is Waterside Places, a Joint Venture between Muse Developments and the Canal & River Trust.

Waterside Places will develop the site and McLaren has been confirmed for the job which is the first phase of a wider development.

Grainger said: “The scheme which has planning consent is subject to a number of conditions which are to be satisfied prior to construction starting on site, anticipated in early 2019.”

Helen Gordon, Chief Executive of Grainger, said: “We are pleased today to announce our latest investment in Tottenham Hale, one of our target London locations, which will deliver 108 new high quality, purpose built rental homes and complement our Apex House development close by in Seven Sisters.”

Once complete, the wider scheme will deliver up to 505 canal side homes and extensive public realm improvements along with a range of commercial and leisure space.