Resi wrap: A record year for BTR lets

Welcome to your weekly round-up of residential stories from EG. The largest build-to-rent landlords in the UK enjoyed a record year for lettings in 2021, inking deals for more than 10,000 move-ins . New scheme openings across the country saw Get Living, Grainger, Greystar, Legal & General, Quintain Living and Uncle boost customer acquisitions, as tenants commit to city living post-pandemic. L&G topped the ranking with some 1,985 leases, followed by Greystar at 1,852 and Quintain Living with 1,700. EG analysis reveals occupancy, lease length and rental growth for the biggest owners and operators. In a comment piece, Greystar’s managing director of investment management and operations Bella Peacock, said: “It is a significant vote of confidence in the sector’s approach. BTR providers in no way hold themselves out to be the only rental housing solution. Different people look for a different experience. “We are, however, content to see that we are providing a product that meets the needs of our audiences and is therefore in ever-growing demand.” This week Uncle continued its expansion as joint venture partners Realstar and QuadReal secured a £120m scheme at Lendlease’s Deptford Landing, SE8. A flurry of deals this week also saw PIC pick up its third BTR scheme at Peel L&P’s Wirral Waters. The £130m deal for a 50-year lease will stimulate the wider development at what has been dubbed the UK’s largest regeneration. Elsewhere in the student world, Greytar completed the £338m acquisition of Downing’s 1,807-bed portfolio in Manchester, London and Coventry; Bricks Group secured Tristan Capital as funder for a new £750m joint venture; and Future Generation has launched a £200m sale of a 1,500-bed portfolio. View the magazine, download the app (iOS and Android) and read on for more of the week’s headlines: M&G takes majority stake in MMC housebuilder Construction firms takes a battering after Gove’s cladding demands The Peterborough Effect: reimagining the new towns initiative Co-living operator takes over former Collective sites Unanimous approval for £2bn Millwall FC regen Hub and Bridges approved for Leeds BTR Croydon knocks back £90m co-living scheme Plans to turn Highcross Debenhams into BTR flats approved McLaren Living plans £85m Leeds BTR scheme Holborn student digs set for approval Sage Housing raises target to 30,000 homes SevenCapital steps up London spree with Mark jv Unite adds site to Nottingham portfolio Hub director returns to lead small site venture L&G Affordable Homes hires Hewitt as FD Directors appointed to oversee Brick by Brick wind-down Lenders close £251 funding for Moda Living Oaktree-backed lender provides £43m in sustainable double deal Home REIT spends last £55m of £350m raise Galliard doubles down on commuter belt with £265m in new schemes To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews Image from Greystar