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The global build-to-rent round up - 4 August 2021

The global buildtorent round up  4 August 2021

A curation of news highlights from around the globe covering build-to-rent and specialised residential assets.

Australia

  • New South Wales: Co-living developments will be automatically approved in all areas where apartments are allowed in NSW to add affordable housing options to the market. Senior housing will also be allowed in vertical villages under new planning changes to boost alternative housing supply in the affordability crisis. Full article here.
  • New South Wales: The NSW Government has reinstated the ‘build-to-rent’ planning pathway in Central Sydney, to increase housing supply, in a reversal of previous policy. Full article here.
  • Perth: US build-to-rent developer Sentinel Real Estate’s first Australian purpose build BTR development is now certified carbon neutral, as an Australian first for the asset class. Full article here.

Europe

  • UK: Research by Ascend Properties has shown the build-to-rent sector has performed well through the pandemic with planning applications for developments rising by 52% to 11,975 applications lodged in the year to the first quarter of 2021. Full article here.
  • UK: Macquarie Asset Management has launched its UK build-to-rent platform Goodstone Living to capitalise on the market opportunity of the UK’s purpose-built rental housing sector. Goodstone Living has acquired its first BTR development site, Camp Garden Hills, in central Birmingham which is consented for 500 new build-to-rent units. Full article here.
  • UK: Lloyds Banking Group has set up a build-to-rent business, Citra Living with plans to purchase 800 homes from developers by the end of next year. The bank is focussing on new build developments within easy reach of public transport, amenities, and leisure facilities. Full article here.
  • England: Urban Village Group has completed the transformation of an office block in the West Midlands to a 69-unit build-to-rent development. The development had very high demand for one- and two-bedroom units with all units being let in a few months of going to market. Full article here.
  • London: Build-to-rent developer Fizzy Living have partnered with payment technology firm flatfair to offer no deposit renting options at Fizzy East16 building in Canning Town development. This risk is negated with flatfair undertaking credit checks on tenants and agreements to negotiate any damage costs at the end of the tenancy. Full article here.
  • Spain: Plans have been unveiled for 216 build-to-rent unit across two developments in Valencia City. The developments both will feature communal living spaces and swimming pools, with one also featuring a tennis court. Full article here.

North America

  • USA: Independence Reality Trust and Steadfast Apartment REIT are to merge, joining two high quality multi-family portfolios together in the Sunbelt region of the US. The combined portfolio worth US$7B will comprise of 38,000 units over 131 apartment communities. The merger is expected to create operational efficiencies and a more competitive operating platform. Full article here.
For more information or advice on build-to-rent or specialised residential projects, get in touch with Alan McMahon, National Director of Strategic Advisory at Colliers.

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Alan McMahon

National Director | Strategic Advisory

Auckland

Alan has overall responsibility for Strategic Advisory for Colliers International in New Zealand. 

He advises a wide range of public and private sector organizations. Clients include Auckland Council,, Massey University, Kiwi Property, Ngai Tahu Property, Ngati Whatua Orakei, Ngati Whatua o Kaipara, NZ Super, and various departments of the New Zealand government including Police, MBIE, Ministry of Justice, and Kainga Ora.

 

 

 

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