New figures from the British Property Federation show that there are now over 30,000 Build To Rent units with planning permission in the UK, a 47 per cent increase since October.
The BPF says there has been a huge surge of interest in BTR since the turn of the year:
- Grainger plc pledging to invest £850m in the private rented sector by 2020;
- Legal & General working with Dutch pension fund PGGM to deliver a £600M build to rent investment plan;
- Greystar Europe Holdings, one of the USA’s biggest housing investors, announcing the acquisition of a 26.5 acre site in Greenford, West London, on which it will develop the UK’s largest purpose-built rented housing scheme;
- A £1 billion pledge from RBS in lending to the build to rent sector;
- LaSalle Investment Management making significant in-roads into their plans for at least £500m of build to rent investment.
The BPF has produced the list as part of its response to the government’s additional homes stamp duty surcharge consultation - it is opposed to any surcharge falling on institutional players who form the backbone of the growing Build To Rent sector.