We are very active in this relatively new sector and have represented a wide range of clients who successfully buy and complete (or project/development manage) PRS and BTR developments, and who also to sell either pre or post stabilisation via forward funding and forward commitment transactions.
The PRS and BTR sector in the UK has grown substantially in recent years with some 150,000 build-to-rent units either completed or planned across the UK. We spotted this trend at its outset and have developed a particular specialism in this area.
Our experience in this sector covers standard BtoB and BtoC rental schemes and also Co-Living; Student Accommodation and short term aparthotels and serviced apartments;
Our team can expertly guide clients through the Build-to-Rent process, from start to finish, covering acquisition, financing, different types of forward-funding, planning, rights to light advice, construction contracts and lettings. We have particular experience in dealing with modular PRS schemes, which are becoming more common, as issues around funding and delivery are being refined and resolved.
We have recently acted on:
- The acquisition of a new site in West London for redevelopment as a 300-bed scheme.
- The purchase of land in Clapham, by way of forward funding, by a well-known institution with planning consent obtained for the demolition of the existing office buildings, the redevelopment of the site incorporating the erection of 6 buildings ranging from 4 – 10 storeys, including a mixed-use scheme (offices/residential and gym).
- Acquisition of 15 storey office building in Wembley with approval obtained by client to refurbish the building to create 360 PRS modular units (this is the largest PRS Scheme in London).
- Acting for a major PRS-focused client on the purchase and development of a portfolio of substantial regional properties, which will create circa 900 PRS units.
- Purchase and sale by forward commitment of various northern regional PRS social housing portfolios.
- Amazon Properties
- Atlas Residential
- British Airways Pension Fund
- Clarisbrook Properties
- Dandi Living
- Dukelease Properties
- NEAT Developments
- Node Living
- The Collective
- RediResi Group
- Dorchester Group