Spotlight: Rental Britain

Rental Britain
 
Why Forward Fund?

2 February 2016, by Jacqui Daly

The lack of available stock is prompting an increase in deals to forward fund development for rent.

 

Accelerate Housing Delivery

 

 
Bath Riverside

▲ Bath Riverside, Bath City Centre

M&G Real Estate purchased 97 new private rental homes in Bath Riverside from Crest Nicholson. The transaction forms part of a longer term relationship with Crest. The partnership is designed to accelerate housing delivery by unlocking future phases of land. M&G will provide finance to fund the development of 97 apartments while Crest Nicholson acts as developer and contractor of the scheme.

City Centre Regeneration

 

 
Bernard Street

▲ Fruit & Veg Market, Southampton

Rockspring and its joint venture partner Atlas Residential have agreed a deal to purchase a rental market development site from local developer Hampshire and Regional Property Group (HRPG). The site originally owned by Southampton City Council has planning consent to deliver 211 units. The impact of more rapid letting rates on delivery times for new developments is a key attraction.

Invest In Unbroken Block

 

 
North Acton

▲ Victoria Square North Acton, Ealing London

M&G and HUB Residential have renegotiated the S.106 agreement for this scheme which required 20 of the units to be allocated for shared ownership housing. M&G sought to purchase the freehold interest of an unbroken block so that the block could be managed and maintained as a single asset. LB Ealing agreed to allow the conversion of the original S.106 requirement to 20 discounted market rental units.

De-Risk Regeneration

 

 
Lewisham Gateway

▲ Lewisham Gateway

Lewisham Gateway is a major urban regeneration project in Lewisham in London. As part of the funding strategy for the development, Fizzy Living agreed to purchase 136 units in Phase 1 on a fully forward funded basis which helps give certainty to the developer Muse. It helps to de-risk the significant infrastructure costs associated with this large-scale regeneration project.

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