Another Build To Rent scheme has been unveiled, this time in Berkshire.
Crest Nicolson and M&G Real Estate have joined forces to fund the construction of 114 private rental homes in Arborfield Green, a garden village close to Wokingham and Reading.
The M&G UK Residential Property Fund will finance the one and two-bedroom apartments, which will be ready for occupation in late 2019.
Arborfield Green is the third BTR project between Crest Nicholson and M&G Real Estate and marks over £100m of deals made under the investor/house builder arrangement established in 2015.
It forms the first part of the partnership’s intended plan to provide 200 BTR units at the garden village.
Previous deals with Crest include M&G Real Estate’s £51.5m purchase of 227 BTR units at Crest Nicholson’s Kilnwood Vale development, near Crawley in West Sussex - the country’s first low-rise suburban apartment development, centred around a communal club house, tennis court and games area.