There’s been a strong start to the year for Build To Rent with news that a real estate investment trust dedicated to BTR has signed contracts over nine new sites.
One is a newly-completed development of homes that has been acquired from Sigma PRS Management Limited, while seven others are development sites - some with construction already underway. The remaining site will comprise another fully-completed development at the point at which it is fully acquired.
The nine sites are expected to deliver approximately 775 additional new family homes and provide a forecast £6.7m in rental income annually once completed and let.
The PRS REIT, as the investment trust is called, now has 42 sites that are either completed or contracted; they will eventually host 3,575 rental units.