January 31, 2019: National Regional Property Group has welcomed the news that the number of Build to Rent (B2R) homes across the UK is rising.
According to new figures from Savills on behalf of the British Property Federation (BPF), Build to Rent homes are up by 22 per cent, with 139,508 either complete, under construction or in planning.
Shaun Adams, chief executive of National Regional Property Group, says it’s further evidence of the demand for these type of homes. He said: “Build to Rent has seen a real explosion in popularity in the UK, as renters switch on to the benefits it brings. For many, it can be a much simpler approach to the traditional set up of a private landlord within a complex web of agents and leaseholders. We’ve seen first-hand how Build to Rent upping the game for the rental sector.”
National Regional Property Group specialises in Build to Rent developments, where an entire development is owned by one company and all homes are for rent, rather than purchase.
It brought Southampton its first-ever Build to Rent development, Bow Square, which now boasts 279 modern apartments as well as facilities such as a gym and residents’ lounge. Now, National Regional is working to bring a further 132 Build to Rent apartments to Southampton through a new development at Lower East Street in association with Grainger.
Shaun says: “We’re certainly seeing the results of the Savills research reflected on the ground here in the South. Demand for high quality Build to Rent homes is high, especially in cities such as Southampton where there’s a vibrant social scene and large numbers of young professionals wanting to live and work in the city centre.”
According to the survey for the British Property Federation the number of homes completed and in planning have increased by 29% and 10% respectively. For the first time, the total number completed across the UK regions has caught up with the total in London, with 14,615 completed homes in the regions and 14,801 in the capital.