UK property developer Godwin Developments announces it has launched a nationwide Build to Rent platform. Working as an equity investor in partnership with a leading institutional real estate partner, Godwin Developments has ambitious plans to build a portfolio valued in excess of £1bn. Godwin Developments was advised by Alantra (corporate finance), Gateley (legal) and KPMG (tax).
The joint venture (JV) will target both single-family and multifamily Build to Rent in recognition of the substantial growth potential of the asset class. The strategy enables Godwin Developments to leverage its strong track record across acquisition, planning and delivery whilst rapidly scaling its operations in the sector. The JV partner has significant experience in investing in the living sectors across multiple jurisdictions, including in the UK.
In the near-term, the partnership aims to develop its Build to Rent proposition through acquisitions of both standing and forward funded stock, as well as by unlocking new land opportunities. The Oxford-Cambridge Arc and the Home Counties will be key to expanding the delivery of single-family units for rent. For the multifamily offering, London, Bristol and Birmingham will be important target cities.
There will be a focus on creating high-quality, professionally managed homes with strong ESG credentials that will appeal to residents of all ages and life stages – from singles and sharers, to couples, families and downsizers.
“We are thrilled to announce the next step in our growth ambitions in the Build to Rent sector. Build to Rent has proven itself to be a highly defensive asset class and is rapidly establishing itself as a real alternative to home ownership, delivering an opportunity to alleviate the shortage of housing across the country.
“This launch is truly transformational for our business, and we look forward to growing our portfolio nationwide, adding value for residents, housebuilders, landowners, local authorities and other stakeholders using our expertise and unique ability to deliver, market and manage schemes across the development lifecycle.”Stephen Pratt, Director and Co-Founder, Godwin Developments
Established in 2003, Godwin Developments is an experienced national property developer. The company employs over 40 professionals supported by a Property Advisory Board of leading industry professionals. Headquartered in Birmingham, the company also has offices in Nottingham and central London.