The south London site, known as Macbean, is Legal & General’s third BTR scheme in and around the capital following similar deals in Walthamstow and Croydon.

Plans for the MacBean development include 650 new homes, together with 21,000sqft of commercial space and a new public square.

James Lidgate, Director of Housing at Legal & General Capital, said: “This latest development, our largest BTR acquisition to date, is another step forward for Legal & General in its ambitions to tackle the severe housing shortage that the UK is facing, helping to address the significant supply and demand imbalance – both in the Borough of Greenwich and across London as a whole.”