A Build To Rent operator is marking its 2,000th new-build home - an indication of how the sector is starting to grow more rapidly.
SDL Group, working in partnership with Sigma Capital Group, operates under Sigma’s ‘Simple Life’ brand and - unusually for Build To Rent - majors in family homes rather than single-person or shared-tenancy apartments.
The 2,000th home is in Middleton, Greater Manchester, at the Baytree Lane development, which encompasses 110 homes of either two, three or four bedrooms.
Paul Staley, director of PRS at SDL Group, says: “It’s clear that the UK housing market is undergoing a significant restructuring, and from a demand perspective, renting is now a much more acceptable form of tenure than it was in previous generations.
“With up to a third of young people expected to live in private rented accommodation all their lives, it is vital that the PRS sector help to fill the vital gap within the current housing market, by providing high-quality homes of variable sizes.
“At SDL we are helping to cater for this demand, especially among families, and the success and growth achieved is just the beginning - there is so much more to come from the BTR sector.”
SDL Group says it wants to manage 20 per cent of the UK’s total Build To Rent stock by 2020, which would mean managing over 10,000 properties nationwide.