Urban Village Group has submitted plans for a new build-to-rent scheme in Milton Keynes.
The £69m scheme will deliver 237 flats at the former office block, AGF House on Avebury Boulevard, close to Milton Keynes town centre and train station. Renamed Westminster House, it will span six floors and have a residents’ gym, cinema, communal entertainment facility, and residents’ workspaces.
Urban Village Group chief executive officer Nick Sellman said: “There is a strong and growing demand for homes in the private rented sector and our Westminster House development will help address the growing requirement in the Milton Keynes region.
“Currently, there are 4.5m households in England now renting, representing 20% of the market, which has increased from 10% in 2001. In the next 15 to 20 years, more people are expected to rent rather than own their own home.
“As the national housing shortage continues, with an average 200,000 homes built each year against a government target of 300,000, there is significant scope for major growth in the BTR sector.”
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Photo: Urban Village Group
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