The Build To Rent sector continues to grow, albeit slowly - now volume house builder Crest Nicholson has teamed up with M&G Real Estate for a fifth batch of homes.
The 104 homes will be the second phase of a Build To Rent scheme between Wokingham and Reading in Berkshire.
The M&G UK Residential Property Fund will finance the one and two-bedroom apartments.
This latest partnership marks more than £115m of deals made under the investor-house builder arrangement established in 2015.
Chris Tinker, interim chief executive at Crest Nicholson, says: “As housebuilders we need to make a concerted effort to partner with other experts in the industry if we are to meet the government’s ambitious new homes targets. Drawing on expertise from across the sector gives us the tools to do this at speed, without ever compromising on quality.”
Previous deals with Crest Nicholson include M&G’s £51.5 million purchase of 227 BTR units at Crest Nicholson’s Kilnwood Vale development, near Crawley in West Sussex.