Insurance giant enters private rental sector with eco-scheme

Aviva Investors, the global asset management wing of insurance giant Aviva, has announced a deal with a Build To Rent specialist to acquire and develop 195 homes in the West Midlands.

This is the first initiative under the partnership between Aviva and BTR specialist Packaged Living. 

The 195 units consist of 148 semis, nine terraced and 38 detached homes, and will be in Telford, on the former site of a secondary school.

Aviva says the link with Packaged Living will focus on creating sustainable communities, targeting an EPC A rating for all properties under development and offering “highly energy-efficient homes designed to minimise energy usage and costs for families.” 

The development will also feature electric vehicle charging and a car parking space for every dwelling; all timber will be from sustainable sources; and buildings will be designed to incorporate water recycling measures. Aviva also claims that an ecologist will also be appointed to undertake a biodiversity assessment.

James Stevens, head of real estate Investment at Aviva Investors, says: “As one of the UK’s largest investors in real estate, property and infrastructure, it is hugely important that – consistent with our values – we make a material contribution to the transition towards a low-carbon future, using our size and influence to create meaningful change. With the built environment accounting for a large proportion of total emissions in the UK, our project in Telford is an exciting opportunity to create a community with high social value, which also leads the way in demonstrating how the UK’s residential market can be more sustainable and environmentally conscious.

And Jonathon Ivory, managing director of Packaged Living, adds:  “We believe Single Family Rental is the next chapter in the evolution of the Build To Rent story and we are really excited to be working with our partners Aviva Investors to prove this concept. Our first project will not only provide much needed housing to the local area, it will also demonstrate our commitment to deliver properties that are fit for the future, combining high quality finishes with high energy efficiency, low carbon solutions and importantly lower costs for the families that will live there.”