LRG beefs up build to rent division as sector booms
The industry giant is setting up a 'taskforce' to lead its build to rent operation as the sector sees explosive growth backed by City cash.
LRG has intensified its involvement in build-to-rent (BTR) with a new ‘taskforce’ designed to ramp up the company’s presence in the sector.
The growing number of investors, developers and property managers active in BTR, make it the UK’s fastest-growing property asset class, Leaders Romans Group says.
The taskforce called ‘Three Sixty Space’ brings together ‘wide-ranging expertise’ from across LRG, including land acquisition and disposal, planning, sustainability, new homes development, lettings agency, property management and block management.
BTR has evolved from providing city centre apartment blocks for young professionals to substantial suburban communities with shared services and facilities, LRG says, which are proving popular with all age groups.
LRG says that with its network of 225 offices, it’s ideally positioned to address this demand. BTR suburban communities will be the focus of a ‘White Paper’ by Three Sixty Space, to be published shortly.
Potential unlimited
Andrew Jones (pictured), who was recently appointed as group director, corporate lettings and build to rent at LRG, and leads the taskforce, says: “Recent research among global institutional investors has found that 70% anticipated being active within BTR suburban communities in the next five years: a substantial increase from the 42% currently active.
“The sector’s potential is almost unlimited, as counter-urbanising maturing Millennials seek family homes in serviced communities and benefit from the opportunity to move from one home to another at little cost as their family grows,” he says.
“But the unabated expansion will require the values of traditional BTR to be maintained.”
