Monk Estates hunts for BTR investors as it heads to MIPIM

Developer Monk Estates is heading to MIPIM Cannes this week following the launch of its Build to Rent fund. 

Robert Monk, Chairman, Monk Estates | BTR News
Robert Monk, Chairman, Monk Estates.

Monk Estates is heading to MIPIM this week following the launch of its £130m Build to Rent fund. The Nottingham-based developer has appointed Knight Frank Capital Advisory to support the company to find investors. 

Monk Estates is looking for £130m of equity investment for a core plus product that presents lower risk, is stabilised, and offers annualised returns of around 15%. 

Whilst at MIPIM, Monk Estates looks to expand Hylyfe – the company’s management business – to over 1,500 homes over the next five years in the Midlands. Areas include Coventry, Birmingham, Leicester, Sheffield and Nottingham. 

The company has chosen to develop the Build to Rent schemes through its Monkfish Construction business. The new fund will facilitate the retention of completed assets which will be transferred to the fund where Monk Estates will continue to manage the Build to Rent schemes through Hylyfe. 

Founded by Robert Monk at the start of the 1990’s, Monk Estates has been responsible for many purpose-built student accommodation (PBSA) schemes in Nottingham, that have delivered 8,000 beds. 

Moving into the Build to Rent sector was a natural move for Monk Estates. The company has currently completed and stabilised one Build to Rent scheme – Lace Market Point – in Nottingham, which went on the market last year. Its second scheme in Leicester is under construction and being delivered alongside Housing Growth Partnership, which is backed by Homes England and Lloyds. 

The company’s Build to Rent fund follows this success and its proven concept of delivering Build to Rent schemes as well as the build process.