One of the biggest investors in Britain’s burgeoning Build To Rent sector, Legal & General, has appointed a land manager from Barratt Homes into a key management position.
Mike Powell has become L&G Property’s residential transactions manager. He was a Barratt Homes land manager responsible for acquiring development sites within London and the surrounding counties. He previously worked as a land buyer for Persimmon Homes.
Powell will be focused on sourcing land development opportunities “across the UK’s major cities that are suited to its new Build to Rent investment model” according to a statement from the company.
LGP says it aims to deliver “higher quality, customised space, together with a more professional and flexible standard of tenant service”. It says it will select sites with good transport links and related infrastructure, and where planning risks have been minimised.
L&G says it will be responsible for the development, management and service of all its Build to Rent portfolio. It has an estimated £1 billion to invest and has so far acquired two sites for a 300 to 400 unit scheme in Walthamstow and a 90 unit block in Salford.