Telford Homes Plc announced that it has exchanged contracts for the purchase of part of Greystar's significant development site in Oldfield Lane North, Greenford, UB6 for a total consideration of £28.4 million. The development, a 20-acre mixed use scheme on the banks of the Grand Union Canal in Greenford, has planning consent for 1,965 homes along with retail space, restaurants and cafes, leisure facilities, flexible work space and a two-form entry primary school. Whilst around 70% of the homes are to be delivered as build to rent by Greystar the remainder are for individual sale and affordable housing. Telford Homes has acquired part of the site to deliver 194 homes for individual open market sale at an average selling price of circa £500,000 and 84 affordable homes for shared ownership. The site is serviced by excellent transport links being situated a few minutes' walk from Greenford Underground station on the Central Line which is then a 26 minute journey to Bond Street and the new Crossrail intersection. The Group intends to commence work on site in mid 2019 with completion anticipated in 2022.