Established in 2020,
LRIP 2 is a limited partnership co-invested by Lendlease and Canada Pension Plan Investment Board (CPP). The partnership seeks to own and manage Build to Rent assets in UK cities.
Investment strategy & ambitions
- Long-term ownership of Build to Rent assets within London or major regional UK cities.
- Deliver long-term profitability and enhanced performance returns whilst caring for people and the planet.
- Provide best-in-class service that others in the sector aspire to.
- Create communities that embody a frictionless lifestyle and meaningful connections that demonstrate the value of home.
Property portfolio
In the heart of Elephant & Castle, Elephant Park is Lendlease’s £2.5 billion regeneration project in Zone 1, London. The project is creating thousands of high-quality new homes, jobs, business opportunities and green space for Londoners. Elephant Park offers the first collection of rental homes by Living by Lendlease, with thoughtful layouts, private outdoor areas, and market-leading amenities.
The partnership is invested in the recently completed, City Lights Point and Parkside, comprising 241 homes.
Lendlease advantage
LRIP 2 leverages Lendlease’s integrated end-to-end business model, from construction and development through to investment management. Our property and asset management company, Living by Lendlease, is committed to building its reputation for first-class customer care within the industry, ensuring the needs of the current residential asset and the surrounding community are prioritised.
City Lights Point
City Lights Point comprises 118 Build to Rent homes within an 18-storey building, offering residents a vast range of on-site amenities to enjoy. The asset sits within the landmark 28-acre regeneration neighbourhood Elephant Park. Located in the heart of Elephant and Castle in Zone 1 London, this vibrant community enjoys excellent links directly into the City of London. City Lights Point is managed by Living by Lendlease, and offers acclaimed rental communities where service is signature, allowing residents to rent with their pets and decorate their apartments to their own style.
Parkside
Alongside City Lights Point and within Elephant Park, Parkside offers 123 Build to Rent homes. Parkside provides its residents with a vast range of amenities to enjoy. Like City Lights Point, Parkside will be managed by Lendlease’s own management company, Living by Lendlease, ensuring residents experience the very best service the industry can offer.
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Responsible Property Investment
The Partnership aims to be the leader in responsible property investment and management of Build-to-Rent (BTR) assets across the United Kingdom. Our vision, to create the best places, is supported through our continuous focus on delivering environmental, economic and social value for our residents, the community and our partners.
The Partnership understands that sustainability is an opportunity to increase the competitiveness, desirability and performance of its investments primarily through its ability to create and manage vibrant and resilient communities. It is committed to integrating sustainability practices in the management of its portfolio and achieving leadership in responsible property investment and on global sustainability indices.
Guided by Lendlease’s Responsible Property Investment and Sustainability Framework, it is considered that, together with the implementation of leading sustainability practices, the Partnership will differentiate itself and deliver long term value for its investors, the environment and its stakeholders.
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GRESB
LRIP 2 is committed to participating in GRESB with the first submission targeted for 2026.
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Green Building Certification
ASSET
CODE FOR SUSTAINABLE HOMES
EPC
WELL for Residential
City Lights Point
4
B
NA
Parkside
4
B
Certified (Target)*
*Parkside is targeting to be one of the first buildings in the UK to achieve WELL for Residential certification.
