Long Harbour appoints MD to lead new SFH platform

Specialist real estate firm Long Harbour appoints a Managing Director to lead its new single-family housing platform across the UK.

Lounge at Long Harbour's Gessner Build to Rent scheme. The company will bring its experience to its new SFH Build to Rent platform | BTR News
Lounge at Long Harbour's Gessner Build to Rent scheme. The company will bring its experience to its new SFH Build to Rent platform.

Specialist real estate investment, development and management firm – Long Harbour – appoints Jack Spearman to lead its single-family housing (SFH) platform across the UK. Long Harbour’s established property management brand, Way of Life, will be used across the SFH portfolio, building on its success in Build to Rent. CBRE has been appointed to support the company’s capital raising.  

Joining Long Harbour in 2009, Jack is a partner at the firm having led the origination and execution team for the UK Secured Income programme. Under Jack’s leadership, the team deployed c.£2bn to date and is responsible for originating all new opportunities, due diligence and deal execution.

“Our ambition is to create a SFH platform of scale that addresses the undersupply of high quality, energy efficient and modern, suburban housing in the UK. Long Harbour is uniquely positioned to deliver this with fast transaction capability, an unrivalled track-record in private rental sector housing and fantastic housebuilder relationships.

“Currently three million UK rental households live in primarily low quality poorly managed suburban homes. This, coupled with growing affordability concerns within the wider housing market and lack of mortgage accessibility, is driving more people into rented homes, either through necessity or due to the flexibility it affords. We look forward to playing a role in helping to meet this need and to solving this aspect of the housing crisis, as well as set a strong ESG benchmark for this emerging sector, particularly from a sustainability perspective.”

Jack Spearman, Managing Director, Long Harbour

The new SFH platform aims to mirror the success of Long Harbour multifamily investment vehicle, which it has built into a platform for institutional investment into UK Build to Rent, delivering quality assets, industry-leading operations and strong returns.

Long Harbour will leverage its strong relationships, having completed over 1,200 deals with 275 housebuilders, as well as its robust acquisition processes gained through its Secured Income programme. This will support origination and the firm’s ability to scale up quickly.

“We are thrilled to have appointed Jack to lead this exciting new investment strategy for Long Harbour as we seek to revolutionise renting for families and professionalise the sector. His experience in executing deals in the residential market, strong relationships with many of the UK’s top housebuilders and excellent working relationship with Way of Life, having been a part of our business for over ten years, will be a great asset for us as we look to hit the ground running with our SFH platform which already has a large pipeline under review.” 

William Astor, Chief Executive, Long Harbour

Way of Life is the operating arm and consumer-facing brand of Long Harbour. It is a top three rated management company according to HomeViews – and has a score of 4.55/5.

In August 2021, Long Harbour secured a £650m cash injection for its Build to Rent investment programme, bringing together international investors PSP Investments and Cadillac Fairview, the real estate arm of the Ontario Teachers’ Pension Plan, to create a £1.5bn platform.

Way of Life has also developed a market-leading technology platform which offers residents a premium user experience through a portal that supports them throughout their residency – from pre-tenancy admin and checks through to key services and maintenance during their tenure and end of tenancy management.

Another key function offers real-time reporting for investors to enable data-led decision-making. These capabilities will be extended to Long Harbour’s new SFH platform, which will also incorporate data-driven underwriting to capture over 85 data points for each acquisition to maximise the platform’s capabilities.

The launch of a dedicated SFH platform is a logical step for Long Harbour, as, according to Savills, the market is growing rapidly. Predictions indicate that there could be 30,000 SFH homes in operation by 2027, and over 70,000 by 2032.

Long Harbour will bring its experience and success gained from over ten years across its Build to Rent and secured income strategies to its new SFH platform.