Build to rent

The Build to Rent (BTR) sector has rapidly become a key asset class, addressing the UK’s housing shortage while offering prime opportunities for developers, funds, investors and operators. With funding tied to rental and capital growth, success hinges on financial viability, location, transport links and amenities.

Our highly experienced lawyers are able to take complex development schemes and demystify the jargon for you, advising on the most effective ways to structure deals and avoid pitfalls. Throughout, we’re committed to securing the value of your development or investment. We work collaboratively both internally and with intermediaries, put clients’ goals and objectives front and centre and offer truly commercial advice throughout.

If you’d like to learn how we can work with you, get in touch with our specialist Build to Rent team.

 

Our specialist teams support clients across every stage of the BTR lifecycle. Our expertise covers advise on:

  • Site assembly and development constraints

  • Development finance and forward funding

  • Structuring of platforms for the operation of schemes, including propco/opco models

  • Planning advice from application stage through to Section 106 Agreements, including viability assessments and reviews

  • Tax advice, including structuring to mitigate risk

  • Golden brick disposals to affordable housing providers

  • Construction advice, including traditional design and build models, construction management packages and investor protection via warranties and latent defects policies

  • Buying and selling of stabilised assets

Key experience

JV Build to Rent purchase of Royal Albert Wharf

We acted on behalf of Telford Homes and Notting Hill Genesis to secure a £66 million forward sale to London BTR Investment Limited of a block of 132 homes for market rent. The final phase of the development, the sale relates to the Build to Rent elements of the Gallions Quarters site at Royal Albert Wharf, in the Royal Docks, with units ready for occupancy in Q1 2024.

Menta Regeneration

We are acting for Menta Regeneration in relation to the forward funding of two storey towers comprising 338 flats and ancillary commercial space, funded by Menta and Mitsubishi Estate London, alongside the funding of 118 affordable housing units to be owned and management by housing association Clarion.

BTR development for HG Living

We acted on behalf of specialist Build to Rent and student accommodation developer HG Living on a development and forward funding agreement in respect of a 306 unit residential scheme at Bowback House, Milton Keynes. The scheme uses air source heat pumps for hot water and green electric for heating, with solar panels also helping towards net-zero efforts. It was target a 4* Homes Quality Mark, Wiredscore gold rating and a minimum EPC rating of B.

Build to Rent purchase by Farlane Capital

We acted on behalf of Farlane Capital, a real estate investment platform operating in the UK living sector, on the acquisition of two residential tower blocks (comprising 72 units) in Coulsdon, near Croydon. The two tower blocks comprise part of a wider site which includes three residential tower blocks, allocated to be used for affordable housing. The blocks were purchased ready to be occupied by renters, with all BSA requirements cleared. Across our Commercial Real Estate, Corporate, Tax, Banking, Planning and Construction teams, we advised on all aspects of the acquisition including construction, planning risk (including on exit), estate structuring, corporate structuring, tax aspects and in addition on a £12.5 million debt financing package.

Meet our team