Build to Rent

Build to Rent (BTR) refers to the emerging sub-market in private rented residential stock in the United Kingdom, designed specifically for renting rather than for sale, typically owned by institutional investors and managed by specialist operators. The product is in many ways synonymous with the multi-family sector in the United States.

A guide to Build to Rent has been issued by the UK Residential Council of the ULI, the Urban Land Institute.[1]

Growth in the UK Market

In October 2016, it was estimated that only some 8,000 units had been built with a further 15,000 units under construction. To date, the majority of completed projects have come forward in London and the major provincial cities such as Manchester, Liverpool and Sheffield. Construction is now underway in Birmingham and Leeds. The UK Government is reportedly encouraging the sector's growth.[2]

By September 2019 the number of units either built or in construction was reported to have increased to 35,000 [3] following large developments by a number of firms report in the media.[4][5]

Build to Rent is the most contemporary development in the Private Rented Sector (PRS) and offers housing across the full spectrum of privately rented accommodation in terms of scale and service offering, often with affordable housing being integrated through discounted market rental homes.

Criticism

Tenants in BTR properties typically pay an 11% premium over other properties in similar locations, according to one study.[6]

Aggregator websites

References
  1. "Build to Rent - A best practice guide" (PDF). ULI UK Residential Council.
  2. McIntosh, Angus P. J.; Sykes, Stephen G. (1985), "Leasehold Investments and Other Rent Sharing Arrangements", A Guide to Institutional Property Investment, Palgrave Macmillan UK, pp. 91–108, doi:10.1007/978-1-349-07154-8_5, ISBN 9781349071562
  3. "REalyse Announces UK-Wide BTR Market Intelligence Partnership with LIV Consult". Realyse. Retrieved 2021-01-26.
  4. Shone, Emma (2019-09-05). "First wave of Angel Gardens apartments fully-let weeks before scheduled". Property Week. Retrieved 2019-09-10.
  5. Shilling, Conor (2019-09-06). "Towering achievement - Manchester BTR building 50% let in three months". Property Investor Today. Retrieved 2019-09-10.
  6. "Subscribe to read". Financial Times. Retrieved 2019-07-19. Cite uses generic title (help)
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