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With growing reports on the poor state of private rental accommodation in big cities, the rise in build to rent properties has to be a good thing.
These properties are new build apartment blocks that have been built specifically for renters and cannot be sold on. They have to include at least 50 homes and they are all owned and managed by one landlord. They are designed, constructed and managed to a high-quality standard; created to address many of the problems that renters face from short-term leases to unscrupulous landlords charging exorbitant rents for poor quality housing.
Build to Rent property developers are leading the charge for a better way of renting, with no deposits, no fees, and longer tenancies for their residents. Often gardens are included in the development. And increasingly, sustainability and carbon footprint reduction are a part of the ethos.
Goodstone Living is one such developer. Currently looking to develop in Digbeth, Birmingham, its Camp Hill Gardens will provide more than 500 Build to Rent homes. It will also include the largest private garden in the city with a strategy focused on “long-term value creation”. Along with the housing will be amenity space and co-working areas. There will also be dedicated commercial and retail space available at a 50% reduction to local businesses.
Martin Bellinger, Principal at Goodstone Living said: “Our strategy requires us to be able to identify significant regeneration opportunities… and to transform areas in need of new housing. As the UK’s second largest city by population, Birmingham benefits from a large and growing pool of potential residents demanding high-quality, purpose-built and professionally managed rental accommodation. This makes Birmingham the perfect place for our first development project.”
Developments such as these are being constructed across London and the key regional cities. The future is looking more promising for the ever-growing number of permanent renters in the property market.
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