Build to rent
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Build to Rent (B2R) refers to the emerging sub-market in private rented residential stock in the United Kingdom, designed specifically for renting rather than for sale, typically owned by institutional investors and managed with a high service-led culture by specialist operators. The product is in many ways synonymous with the multi-family sector in the United States.
An extensive guide to Build to Rent has been issued by the UK Residential Council of the ULI, the Urban Land Institute.[1]
Growth in the UK Market
In October 2016, it was estimated that only some 8,000 units had been built with a further 15,000 units under construction. To date, the majority of completed projects have come forward in London and the major provincial cities such as Manchester, Liverpool and Sheffield. Construction is now underway in Birmingham and Leeds.
Build to Rent is the most contemporary development in the Private Rented Sector and offers housing across the full spectrum of privately rented accommodation in terms of scale and service offering, often with afforable housing being integrated through discounted market rental homes.
References
- ^ "Build to Rent - A best practice guide" (PDF). ULI UK Residential Council.