Unibail-Rodamco-Westfield Completes £670M East London BtR Project

Key Points

• Unibail-Rodamco-Westfield (URW) has completed its £670 million Coppermaker Square development in Stratford, east London.
• The development is one of London’s largest single-site build-to-rent (BtR) schemes, featuring 1,225 rental homes.
• The scheme was developed in partnership with PSP Investments and QuadReal, who each hold a 37.5% share, while URW retains 25%.
• The project includes a mix of one to four-bedroom homes across 10 buildings, alongside clubhouse amenities such as a gym, swimming pool, and workspace.
• Coppermaker Square offers significant public realm benefits with open spaces, play areas, and pedestrian connections.
• The development is seen as part of URW’s strategy to densify retail destinations by adding residential and mixed uses.
• Stratford is considered a highly connected location with significant inward investment, including the East Bank education and cultural hub and Westfield Stratford City shopping centre.
• The project reflects a broader effort to address London’s housing shortage with professionally managed private rented sector properties.
• The partnership aims to support local jobs and economic activity, estimated to create 435-640 jobs and generate resident expenditure of £19-28 million annually.
• The build-to-rent model aligns with PSP’s long-term strategy to invest in professionally managed residential assets.
• The phased completion of the project was expected after 2023, with full delivery now completed as of September 2025.

What is the significance of Unibail-Rodamco-Westfield’s Coppermaker Square development?

As reported by CoStar News, Unibail-Rodamco-Westfield, a global leader in retail and mixed-use developments, has officially completed its £670 million Coppermaker Square project in Stratford, east London. This development represents one of the largest single-site build-to-rent (BtR) schemes in the capital, a striking addition to London’s residential infrastructure.

Olivier Bossard, Group Chief Development Officer at URW, emphasised the importance of this new residential quarter by stating that it “is an example of the Group’s strategy to significantly increase the densification of exceptional and highly connected retail destinations by adding offices, residential, hotels and other uses, where relevant”. This approach points to a transformation in urban planning where mixed-use developments are central to creating vibrant city districts.

Who are the key partners behind the development?

The Coppermaker Square development was realised through the Cherry Park Partnership, a joint venture formed by Unibail-Rodamco-Westfield, PSP Investments (the Canadian public pension fund), and QuadReal Property Group, a global real estate company. PSP Investments and QuadReal each took a 37.5% ownership stake, with URW retaining a 25% share and acting as the development and asset manager.

Stéphane Jalbert, Managing Director Europe and Asia Pacific at PSP Investments, noted, “London’s residential sector is chronically undersupplied and Cherry Park supports PSP’s broader long-term sectorial strategy to develop professionally managed residential assets alongside best-in-class investment partners”.

How does Coppermaker Square address London’s housing and community needs?

The project comprises 1,225 spectacular rental homes, ranging from studios to three-bedroom apartments, housed across 10 buildings that feature high-end amenities including a fitness gym, swimming pool, and community workspaces. Beyond residential units, the development also prioritises generous open public spaces with play areas and pedestrian-friendly connections throughout the site, contributing positively to the local environment.

According to a detailed report by Volterra Partners cited by the developers, Cherry Park is expected to support between 2,000 and 3,000 residents. The new community’s estimated annual resident expenditure of between £19 million and £28 million is projected to support 435-640 jobs in London, further evidencing the development’s economic impact.

The project aligns with Newham’s target housing completions, providing the equivalent of 31% of the annual housing delivery target for the area over the 2019-2029 period, as outlined in the Draft New London Plan, reflecting its local significance.

Why was Stratford chosen for this large-scale build-to-rent project?

Stratford is a strategically important and fast-growing area of east London, known for excellent connectivity, being home to one of Europe’s busiest shopping centres, Westfield Stratford City, and the emerging East Bank cultural and educational district. This infrastructure provides future residents with unparalleled access to retail, leisure, education, and transport links.

URW’s vision to densify retail hubs with mixed-use developments leverages Stratford’s existing strengths, creating resilient urban neighbourhoods designed for long-term sustainability and growth. The Coppermaker Square development capitalises on this dynamic environment to offer high-quality rental housing where demand remains strong.

What is the build-to-rent model and how is it significant for London’s housing market?

The build-to-rent (BtR) model involves the construction of purpose-built rental housing operated by professional landlords rather than individual landlords or sale as individual units. This model caters to the rising demand for rental properties in London, where homeownership remains out of reach for many.

By delivering professionally managed rental homes with modern amenities, Coppermaker Square exemplifies a growing sector that offers tenants security, quality, and community facilities not typically found in traditional private rentals. This approach is supported by institutions like PSP Investments, which see BtR as a long-term, stable investment aligned with housing market needs.

What economic and social benefits does the development bring?

Beyond housing provision, Coppermaker Square is designed to generate considerable economic benefits. The influx of residents will support local businesses with estimated expenditures reaching up to £28 million annually, contributing to the local economy and job creation.

The development is also expected to create hundreds of jobs in construction and permanent positions once operational, supporting between 435 and 640 jobs in the city. This impact underscores the role of large-scale property developments in urban regeneration and economic upliftment.

How does the completion of Coppermaker Square fit into URW’s broader business strategy?

Unibail-Rodamco-Westfield, known globally for developing and managing 93 premier shopping centres, including flagship Westfield malls, is reprioritising its portfolio by densifying its retail assets with complementary uses such as residential, offices, and hotels.

The Coppermaker Square project illustrates URW’s commitment to adding value through mixed-use developments, supporting its goal to reinvent city districts. Olivier Bossard commented that the project leverages URW’s “unique know-how” and strategic capital partnerships to “reinvent city districts” and deliver exceptional living environments.

What are the future prospects for similar developments in London?

The success of the Coppermaker Square development signals growing confidence in the build-to-rent sector among developers and institutional investors. With London’s chronic undersupply of housing, especially professionally managed rental homes, the project sets a benchmark for future large-scale residential developments integrated with retail and cultural hubs.