L&G to complete its first build-to-rent scheme this year

L&G to complete its first build-to-rent scheme this year

LGIM Real Assets has appointed residential property managing agent urbanbubble to help deliver its first build-to-rent (BTR) scheme in New Bailey, Salford.

The 225-unit Slate Yard scheme is set to open in early summer 2017.

L&G, with urbanbubble, is looking to pioneer a new service proposition featuring a car club, free WiFi, longer and more flexible tenancies, reduced moving costs, proactive maintenance and 24/7 on-site customer service.

Dan Batterton, BTR fund manager at LGIM Real Assets, said: “The UK rental landscape has changed in recent years with greater numbers of people renting, but with varied experiences.

“We can create healthy competition and improve standards across the rental market with higher, more transparent and consistent levels of service offered by institutional-backed operators.

“urbanbubble shares our vision of wanting to deliver a new standard of service to this market so we can provide homes for each individual rather than a one-size-fits-all flat to rent.

“This new level of service will allow for all types of tenants’ needs and give them choice.”

In 2016, L&G entered the BTR market in partnership with PGGM and has around £1bn to invest and build new large-scale rental property developments.

L&G has now over 1,000 BTR properties under construction or in planning in Bristol, Salford and Walthamstow.

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