The company intends to develop 5,000 private rented sector homes in London’s Wembley Park over the next seven years, with 3,000 of these expected to be under construction by the end of 2017.

These latest plans come as part of a wider transformation project in Wembley Park, for which Quintain has planning permission to build 6,955 homes, and follow news that the company had secured a further £800m facility towards the scheme.

Angus Dodd, chief executive of Quintain, said: “Our commitment to build-to-rent at Wembley Park means we can deliver the homes London needs far faster than if we were selling homes privately and ensures they will be occupied very shortly after they are complete.

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“This long-term commitment also means we can design homes specifically for the needs of today’s generation of renters and provide fantastic shared facilities and professional management arrangements which our residents love.

“We will ensure no apartment is left empty.”

The homes will be available through Quintain’s build-to-rent business Tipi, which charges no agent’s fees, no inventory fees and requires a reduced deposit.

Quintain has so far invested £900m in the transformation of Wembley Park, with 141 apartments already occupied and a further 522 homes for sale completed.

Also included in the plans are a new seven-acre public park, a new landscaped London square and a primary school for 630 children.

Mayor of London Sadiq Khan said: “This development will provide 5,000 much-needed private rented homes for Londoners.

“It will take time to fix the housing crisis, but at City Hall we are committed to help deliver schemes like this that will increase the supply of homes across the capital.”