Barnet Council to Deliver 130 Council-Owned Build-to-Rent Homes in Partnership with Aviva and Stories

Barnet Council to Deliver 130 Council-Owned Build-to-Rent Homes in Partnership with Aviva and Stories

(IN BRIEF) Barnet Council has obtained permission to build 130 council-owned Build-to-Rent homes at Bunns Lane, Mill Hill—50 percent of which will be affordable. Partnering with Aviva Capital Partners and developer Stories, the scheme includes public spaces, visitor parking, and sustainable design to achieve net-zero operational emissions and biodiversity gains. This marks the Council’s first co-investment with a major institutional funder, aiming to deliver high-quality housing and vibrant community spaces. Works will commence in 2026 for delivery by 2028.

(PRESS RELEASE) LONDON, 17-Jul-2025 — /EuropaWire/ — Barnet Council has secured planning approval for a transformative residential scheme at Bunns Lane, Mill Hill, bringing 130 Build-to-Rent homes—half designated as affordable—to a former council car park adjacent to Mill Hill Broadway station. Uniquely, the Council will own and manage the apartments, marking its first partnership with a major institutional investor of Aviva’s scale.

Designed around vibrant public spaces and sustainable features*, the development also incorporates visitor parking for the town centre and station users. Aviva Capital Partners will co-invest alongside specialist developer Stories, whose community-first approach and transparent contracting model complement Aviva’s long-term stewardship.

Deputy Leader and Homes & Regeneration Cabinet Member Cllr Ross Houston remarked, “This project exemplifies how council land can directly deliver high-quality homes for local residents, with affordable options at its heart. Through council-led development, strategic regeneration, and innovative partnerships, we’re strengthening our communities.”

Sophie White, Sector Head Regeneration at Aviva Capital Partners, noted, “Institutional capital, when aligned with public value, can create not just housing but thriving, sustainable neighbourhoods. We’re proud to back Barnet Council’s vision and unlock lasting benefits for residents and the local economy.” Richard Meier, CEO of Stories, added, “Bunns Lane sets a new standard for equitable development in London. By prioritising values and long-term outcomes, we’re demonstrating what public-private collaboration can truly achieve.”

Construction is slated to begin in 2026, with completion expected by 2028.

Notes to Editors

*The development is to be Net Zero in operation:

• The proposal has been designed to Passivhaus principles to reduce energy demand prior to the implementation of low and zero carbon technologies. Beyond the fabric performance alone, solar panels are proposed on all available and unshaded roofspace, and the development will be served by highly efficient Exhaust Air Heat Pumps (EAHPs), providing all heating and hot water to apartments, with electric panel heaters acting as backup only, and with waste water heat recovery further being specified to the largest apartments to ensure a low carbon hot water supply even at times of high localised demand.
• The proposed development is expected to reduce on-site regulated carbon emissions by 80.3% with SAP10.2 emission factors.
• The design proposals will realise at least a 10% net gain in biodiversity.
• There will be a net uplift of 39 trees
• Sustainable Urban Drainage (SUDs) is being introduced within the Proposed Development in the form of green roofs, permeable paving and an attenuation tank.
• Sources are available on Barnet council’s website within the Bunns Lane planning application materials.

About the partners

Stories is a purpose-led property development company committed to delivering meaningful outcomes for people. Founded by a team of experienced urbanists and developers, Stories specialises in working with public, charitable and mission-driven landowners to unlock complex sites for long-term social value. The company is known for its commitment to pioneering purpose-led approaches to development including innovative use of relational contracts, transparent financial modelling, and design-led, community-first approaches.

Aviva Capital Partners (ACP) is Aviva’s in-house capital unit that invests Aviva’s capital to open up new opportunities for UK growth: helping develop thriving, sustainable communities, while generating long-term returns for our customers. ACP invests in urban regeneration projects, housing projects and sustainable infrastructure projects. It invests in the early stages of projects, creating options for ongoing investment by the wider Aviva business.

For more details on ACP, visit Aviva Capital Partners.

A partnership for public value

Stories and Aviva Capital Partners have formed a long-term strategic partnership to address one of the greatest challenges of our time: how to deliver equitable and sustainable development at scale. Their collaboration combines institutional financial strength and commitment to stewardship from Aviva, with Stories’ deep expertise in design, planning, community engagement, and public sector partnership.

Together, they are working with local authorities, NHS trusts, universities and other public landowners to unlock land and deliver housing-led regeneration projects where outcomes are defined by public value, not short-term profit.

The Bunns Lane development is the first in a growing pipeline of projects that demonstrate how development can be done differently – with trust, transparency and long-term impact at the core.

Notes to editors:

• We are the UK’s leading diversified insurer and we operate in the UK, Ireland and Canada. We also have international investments in India and China.
• We help our 20.5 million (as at 31 December 2024) customers make the most out of life, plan for the future, and have the confidence that if things go wrong we’ll be there to put it right.
• We have been taking care of people for more than 325 years, in line with our purpose of being ‘with you today, for a better tomorrow’. In 2024, we paid £29.3 billion in claims and benefits to our customers.
• In 2021, we announced our ambition to become Net Zero by 2040, the first major insurance company in the world to do so. While we are working towards our sustainability ambitions, we recognise that while we have control over Aviva’s operations and influence over our supply chain, when it comes to decarbonising the economy in which we operate and invest, Aviva is one part of a far larger global system. Nevertheless, we remain focused on the task and are committed to playing our part in the collective effort to enable the global transition. Find out more about our climate goals at www.aviva.com/sustainability/climate and our sustainability ambition and action at www.aviva.com/sustainability.
• Aviva is a Living Wage, Living Pension and Living Hours employer and provides market-leading benefits for our people, including flexible working, paid carers leave and equal parental leave. Find out more at https://www.aviva.com/about-us/our-people/
• As at 31 December 2024, total Group assets under management at Aviva Group were £407 billion and our estimated Solvency II shareholder capital surplus as at 31 March 2025 was £7.6 billion. Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index.
• For more details on what we do, our business and how we help our customers, visit www.aviva.com/about-us
• The Aviva newsroom at www.aviva.com/newsroom includes links to our spokespeople images, podcasts, research reports and our news release archive. Sign up to get the latest news from Aviva by email.
• You can follow us on:
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• For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva

Media contacts:

Aviva Capital Partners

Claire Jermany Grange 07385 148681

Stories

Zoe Turvey Zt@stories.partners / 07899 442693

LB Barnet

Robbie Hurley 020 8359 4570

SOURCE: Aviva