A new dedicated Build To Rent company, Adler Estates, has launched in the westcountry.
It’s part of the Eagle One group of private property companies which embraces established residential, commercial, industrial, retail and leisure property divisions including retirement homes firm Blue Cedar Homes.
Adler Estates says its creation is “responding to the urgent, rising demand for rental housing across the Westcountry.”
Its first scheme is in Exeter and lettings manager Lauren England-Shepherd says: “We’re all noticing how rising interest rates are heavily impacting homeowners and the property market, but perhaps overlooking the colossal knock-on effect this creates for the availability of rental homes.
“Not only are rising interest rates making mortgages either too expensive or unavailable for many first-time buyers, but also make it increasingly difficult for landlords to hold on to buy-to-let properties without substantially hiking up rent costs.
“These combined factors are putting the UK rental market under immense strain, with landlords being forced to either sell rental properties or increase costs, and potential buyers finding themselves in a position where they’re unable to move out of rented accommodation. Together, this has created the perfect storm for a rental housing shortage.
“With the new launch of Adler Estates, which is fortunate enough to not face these challenges, we hope to meet the huge demand for quality rental housing, and in turn alleviate the shortage of housing and support our local communities.
“We will be bringing forward a mix of high quality, professionally managed, single to family units which have been purpose-built to a high specification for renters. We have a number of developments already in construction with more in the pipeline.”
