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L&G says 50% of latest Build To Rent scheme has been pre-let

Legal & General, one of the biggest players in the burgeoning Build To Rent sector, says it has pre-let 50 per cent of the units in its latest scheme.

The second phase of the Slate Yard scheme on the River Irwell in Salford comprises 135 custom-built one, two and three-bedroom riverfront apartments.

Dan Batterton, BTR fund manager at LGIM Real Assets, says: "We are pleased to have secured 50 per cent of lettings at phase II of The Slate Yard within eight weeks of opening the doors to the scheme.

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"This is testament to the success of our first BTR proposition and demonstrates that improved services and flexibility are key drivers for of the modern renter.

"The scheme has attracted a wide range of residents, from single people to families to downsizers." 

This latest scheme forms part of the wider New Bailey regeneration programme from English Cities Fund, a joint venture between Legal & General, Homes England and Muse Developments.

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