Following the recent appointment of Andrew Jones as Group Director, Corporate Lettings & Build to Rent, national property consultancy Leaders Romans Group (LRG) has launched a Build to Rent (BTR) taskforce,Three Sixty Space.
Three Sixty Space brings together wide-ranging expertise from across LRG, including land acquisition and disposal, planning, sustainability, new homes development, lettings agency, property management and block management. As such, it provides a consistent service to support the increasing number of investors, developers and property managers who make BTR the UK’s fastest-growing property asset class.
British Property Federation (BPF) figures report exceptional growth for this sector: 14% per annum from 2021 to 2022, and no less than 4% for the last reported quarter. Further analysis also shows that in 2021, BTR accounted for 6% of all housebuilding and investment topped £4bn.
In the past ten years, BTR has evolved from providing city centre apartment blocks for young professionals to substantial BTR suburban communities with shared services and facilities, which are proving popular with all age groups. The British Property Federation’s Who lives in Build-to-Rent? Report (2021) shows that in 2021, 70% of investment has been absorbed by schemes outside London.
Leaders Romans Group, with its Wokingham base and network of 225 offices throughout the country, is ideally positioned to address this exponential demand. Accordingly, BTR suburban communities will be the focus of a White Paper by Three Sixty Space, to be published shortly.
Andrew Jones, Group Director, Corporate Lettings & Build to Rent at LRG who leads the taskforce said, ‘Recent research among global institutional investors has found that 70% anticipated being active within BTR suburban communities in the next five years: a substantial increase from the 42% currently active. The sector’s potential is almost unlimited, as counter-urbanising maturing Millennials seek family homes in serviced communities and benefit from the opportunity to move from one home to another at little cost as their family grows. This innovative, service-based product will compare favourably with most of the stock currently available for rent, and its popularity will enable BTR suburban communities to attract additional investment and grow at pace.
‘But unabated expansion will require the values of traditional BTR to be maintained. LRG’s specialist BTR taskforce was constructed on the basis of consistency. The service, which spans land and planning, specialist management and lettings, strategic advice and data analysis, provides services to investors, housebuilders and PRS operators throughout the process.
‘From land acquisition and Local Plan allocations, to understanding local markets and providing service to fix a dripping tap, LRG spans a vast range of expertise, enabling us to provide that much-needed consistency.’
The White Paper BTR suburban communities: the next stage in the evolution of Build to Rent
will be available at Three Sixty Space soon.