Greystar secures planning approval for first UK garden-style rental community near Cambridge

• 387 rental homes approved at Waterbeach just three months after the launch of Greystar's UK garden strategy
• New lakeside neighbourhood will feature public spaces, retail, landscaped gardens and amenities for the wider Waterbeach community
• First residents expected towards the end of 2028, with construction anticipated to begin in early 2027
  
  

Cambridge, 26 October 2026 – Greystar, a global leader in the investment, development and management of rental housing, has secured Reserved Matters Approval for 387 new rental homes at Waterbeach, four miles north of Cambridge, marking a significant milestone for its first UK garden-style rental community.

The approval from South Cambridgeshire District Council comes just three months after Greystar launched its UK garden strategy and announced the acquisition of the site in July 2026. Located on the northern edge of Waterbeach Lake, the development forms part of Urban&Civic's wider 6,500-home masterplan for the former Waterbeach Barracks and Airfield.

Designed by AFK Studios, with landscape architecture by HTA, the scheme will comprise four mid-rise residential buildings arranged around landscaped courtyards, gardens and pedestrian routes leading towards the waterfront. The architecture draws inspiration from the site's former airfield heritage, with distinctive brick façades and design features that reflect the surrounding landscape.

A central feature of the plans is a new public plaza overlooking Waterbeach Lake, with retail and resident amenities including a gym and co-working facilities. A lakeside boardwalk and waterfront promenade, delivered in conjunction with Urban&Civic, will improve access to the lake and create new spaces for the wider community to enjoy.

The scheme incorporates an all-electric energy strategy, rooftop solar panels and secure cycle parking. The landscape design also includes new reed beds and waterside planting to support biodiversity and enhance the natural environment.

Thomasin Renshaw, Managing Director – UK Development, Greystar, said: "Waterbeach is an important early demonstration of for our garden strategy. Securing approval for our first development demonstrates the value of working closely with local authorities and partners to bring forward much-needed housing.

"Our ambition is to bring this model to other high-growth locations across the UK, delivering quality rental homes at more accessible price points through smarter design, standardisation and efficient delivery. We're actively looking to work with landowners and local partners who share our ambition to unlock sites and deliver much-needed housing."

Harriet Nicholls, Senior Development Manager, Urban&Civic, said: “We’re delighted to see planning consent granted for Greystar’s new neighbourhood and the next major phase of public realm around the lake at Waterbeach. This is an important milestone for Waterbeach and another step towards creating a vibrant new destination around the lake for the whole community to enjoy.

“There is huge ambition for Cambridge’s future growth, and Waterbeach has an important role to play in demonstrating how that growth can be planned well – bringing forward much-needed homes alongside the infrastructure, public spaces and amenities that support a thriving community. We’re pleased to be working with Greystar to help make that ambition a reality.”

Earle Arney, Founder and CEO, AFK Studios, said: "Waterbeach has been a fantastic opportunity to create high-quality homes that respond to the unique character of the site and its lakeside setting. We've focused on achieving architectural richness through thoughtful design and carefully considered detailing, balancing a distinctive identity with the demands of delivering homes at scale. Working closely with the wider design team, we've placed equal importance on the spaces between the buildings and how they contribute to a welcoming, connected neighbourhood. We're incredibly proud to see the project reach this milestone."

Greystar's UK garden strategy targets 20,000 professionally managed rental homes over four years, initially focusing on the Oxford-Cambridge Growth Corridor and M4 corridor. At Waterbeach, contractor selection is progressing ahead of an anticipated construction start in early 2027, subject to the remaining statutory processes and necessary approvals. The first residents are expected to move in from September 2028, with completion anticipated in late summer 2029.