The SDL Group says it is on course to become the UK's largest provider of Build to Rent services.
The firm, which owns Century 21 UK and Graham Penny Auctions, says it has a pipeline of existing contracts which will see its existing Build to Rent portfolio grow sixfold by 2020.
The group says it is on course to secure the letting and management for over 4,000 of 20,000 new properties built specifically for Build to Rent in the next four years.
This would bring the firm's total Build to Rent portfolio to over 10,000 properties across the UK, which, it says, would make it the UK's largest provider in the growing sector.
“Large institutional property investors are increasingly being drawn more to the residential sector, which is currently seven times larger than the UK’s commercial property stock," says Paul Staley, director of PRS at SDL Group.
He says the fact that approximately 80% of all PRS stock is owned by landlords with less than four properties makes it difficult for institutional investors to find large portfolios.
"In addition, the quality and condition of existing stock is difficult to assess and varies quite dramatically," he says.
Earlier this year, SDL Bigwood PRS and Estates Management was appointed by Sigma Capital Group as its exclusive letting and property management partner for a new Private Rented Sector fund.
The deal formed part of Sigma’s plans to invest £100m in a drive to build 1,000 PRS units across England over 18 months.