Practice area: Build to rent

Build to rent

  • 3 October 2024
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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

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Nadine Gibbon

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Building safety

  • 21 September 2024
Construction workers in high-visibility vests and helmets stand and communicate amidst metal scaffolding at a construction site, with sunlight streaming through an open structure.

Our Building Safety team specialises in advising on this complex area of law. With expertise in the Building Safety Act 2022 and related Building Regulations, we offer advice to developers, real estate funds, investors, freeholders and leaseholders.

We can advise on the legal aspects arising from the following areas:

Compliance: We advise freeholders and leaseholders of higher-risk buildings on their obligations in relation to the new dutyholder regime and management of building safety risks.

External Wall Systems: In conjunction with experts in fire engineering and façade engineering, we advise on claims arising out of defects in external wall systems.

Lease Terms and Legislation: We review lease terms and relevant legislation, assessing the current position and advising on the respective parties’ rights and obligations.

Service Charges Challenges: We assist in challenging service charges related to remedial works.

Government Funds Applications: We advise clients who are applying for relevant government funds and seeking recovery from the parties responsible for the fire-related defects.

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Nadine Gibbon

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Helen Streeton

  • 29 August 2024
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A Partner in the Commercial Real Estate team and Head of Build to Rent (BTR), Helen has lots of enthusiasm for real estate; she enjoys the industry’s tangible nature and working with a diverse range of stakeholders in the sector. She is proactive and a creative thinker who always endeavours to understand the client’s perspective, its strategic priorities and the risks it faces.

Helen constantly prioritises clear and succinct advice, while keeping deals and projects moving towards completion.

She has an extensive background in advising developers and funders of large-scale business, leisure and mixed-use projects, build to rent schemes and other complex development sites. Helen has worked on key developments and schemes in the UK, particularly in and around London. She has particular expertise in development.

Given the scale and complexity of matters that Helen routinely works on, she has become an adept collaborator, frequently working alongside colleagues, clients and other professional advisers to ensure that targets and desired outcomes are achieved.

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Nadine Gibbon

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Sara Branch

  • 29 August 2024
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Ranked in the Chambers UK Guide for over 17 years including 2024, Sara is praised for her expertise in the acquisition and development of mixed-use sites.

Sara is a Partner in the Commercial Real Estate team and is Head of Affordable Housing. She has a strong real estate development and regeneration practice with extensive experience working for both public and private sector organisations.

In the affordable housing field, Sara acts for registered provider clients on a range of projects from complex projects involving multi-party joint ventures, profit-sharing arrangements, development and construction documents, and disposals including build to rent, to the acquisition of the affordable provision under section 106 agreements. She also frequently advises on transaction structuring as well as strategic acquisitions and disposals.

A smiling woman looks directly at the camera, wearing a patterned blouse and gold necklace, in a softly lit indoor setting.
Media contact

Nadine Gibbon

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