A bespoke Build to Rent operator – ila (I Live Around) – launches in the UK Build to Rent market and is set to embark on an ambitious journey to deliver 4,000 Build to Rent homes across the UK over the next four years. ila aims to enhance the market with people-first neighbourhoods that draw inspiration from UK culture and heritage.
The current pipeline of Build to Rent schemes currently under development include sites in Birmingham, Cardiff, Leeds, Liverpool, London, Manchester, Salford and Sheffield. ila will carefully consider each project in relation to the culture and heritage of its location, to create unique and meaningful neighbourhoods that enable residents to enjoy high-quality, city-centre living.
The first neighbourhood to complete is Hairpin House in Birmingham. The scheme will deliver 237 Build to Rent apartments. Hairpin House draws inspiration from the site’s historic home to Kirby Beard & Co, which famously invented the Kirbigrip hair pin.
Due to complete in Summer 2023, the Kangaroo Works neighbourhood in Sheffield will deliver 365 Build to Rent apartments. The scheme – which is part of Sheffield City Council’s Heart of the City II masterplan – is named in homage to a historic tool factory that was once operational on the site.
Later this year, ila will launch Pall Mall Press in Liverpool, which will deliver 336 Build to Rent apartments. The scheme is steeped in Liverpool’s industrial history as home to high-profile printing factories including Brown & Rawcliffe.
All the Build to Rent developments will include a mix of studios, one, two and three bedroom apartments, and will have on-site team and maintenance support, amenity spaces and communal landscaped gardens.
ila’s ethos is driven by its desire to ensure that the voice of residents and the local community underpins design, delivery and site operations. This includes a blend of community engagement activities in partnership with local businesses, to ensure ila delivers meaningful experiences that enhances residents and the wider community’s quality of living.
Appointed as Managing Director of ila, Steven McCarthy will head up the team of 21 people, with the headcount expected to more than double by the end of 2023. Steven has over 10 years’ experience working in the purpose-built student accommodation (PBSA) sector during his previous roles at CRM Students.
“The Build to Rent market has undoubtedly soared over the last five years, but we are just getting started. An acute demand for high-quality and flexible rental options that respond to modern-day requirements is evident and ila will play a significant role in bridging this gap in major cities.
“ila presents a new way to rent and live. We treat every site individually and take time to understand the identity and culture of each city, so that we can deliver neighbourhoods that resonate with residents and create homes to be proud of.”Steven McCarthy, Managing Director, ila
Ila’s developments that are on track to launch over the coming years include Hairpin House, Birmingham, Kangaroo Works, Sheffield, Pall Mall Press, Liverpool and Machine Store in Hayes, London – all launching in 2023. In 2024, Swan Street House, Manchester, Anchor Works, Cardiff and Oldfield Wharf in Salford are due to launch, and in 2025, ila will launch Triangle Yard in Leeds.
With its headquarter in Oxford, ila is part of Ridgeback Group, an integrated Build to Rent investor, developer and asset manager. ila bolsters the group’s portfolio with a dedicated Build to Rent operator offering.
“Ridgeback’s growing portfolio of high-quality homes throughout the UK make the perfect platform for a best in class fully integrated property management firm and we believe the formation of ila will enable us to harness the full potential of our exceptional communities, giving our residents a truly different experience when it comes to renting.”George Bossom, Partner, Ridgeback Group