Moorfield Group has teamed up with resi investment platform Bricklane to deliver a £600m rental portfolio of 2,000 homes.
The partnership will buy existing houses and flats over the next two years through Bricklane’s Compass platform.
Properties will range from one- to four-bedroom homes around London, Bristol and the South East. The pair will then refurbish properties to grow rental income and capital values.
The venture seeks to tap the 98% of the rental market that is currently owned by some 2.5m buy-to-let landlords.
Ross Netherway, head of origination at Moorfield Group (pictured above, left), said: “This Partnership provides us with an efficient and scalable means to find, buy and manage individual residential properties for rent in our target markets.”
He added that the strategy would “help further diversify our activities in our ‘beds’ theme and see us drive the professionalisation of a vast but fragmented market”.
Simon Heawood, chief executive and co-founder of Bricklane (pictured above, right), added: “The time is ripe for institutional capital to access and professionalise the mainstream private rented sector.
“Demand is at an all-time high, while it is becoming less financially attractive for individual landlords to operate in the sector. Moreover, tenants are rightly demanding higher-quality service and more secure contracts for their homes.”
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