A new report by Knight Frank says that institutional funding for the UK’s build to rent market is expected to climb from £25bn in 2016 to £70bn by 2022.

Essential Living, the first company set up to deliver hotel-style apartments for rent in London, won a coveted architectural prize last month for its first scheme in Archway, north London, delivering 5,000 multifamily style housing with spaces around the complex for tenants to enjoy.

The company has just launched its second development, Dressage Court in Bethnal Green, east London. In additional to 104 fully -sized apartments, the building has a range of communal areas free for all residents to hang out, including a New York High Line-style roof terrace with great views of the City.

Darryl Flay, CEO, said, “Our ambition is to make renting aspirational one providing professional service, onsite management and a range of lounges and workspaces than enable renters to think of the whole building as their home. This is only possible because we develop and design our buildings specifically for renters, and have no plans to sell any of the apartments.”