Rental market still buoyant despite lockdown

Build to Rent operator, Wise Living have seen a spike in lettings across all its schemes - including the iconic Mansfield Brewery redevelopment, The Old Brewery.

The Old Brewery development - Wise Living | BTR News
The Old Brewery development.

Wise Living believe the lockdown is helping to drive unprecedented demand for properties for a variety of reasons; the shift in market demand, potential tenants having extra time on their hands to research local properties, and private rental sector tenants are realising their current home is not quite what they’re looking for – leading them to discover the advantages of renting a Wise Living Build to Rent home from a professional landlord.

Bucking the trend that has seen much of the property marketing stalling over the past month, Wise Living has reserved over 80% of the first phase of homes at its Mansfield-based development in a few weeks – which will be released in June and August. 

“We took the unusual step of releasing the properties at The Old Brewery in Mansfield, just after the lockdown was imposed. Despite having no show homes to view, in the past five weeks we have let/reserved over 80% of phase one, and if it continues at this current rate, all homes in phase one will be let before the lockdown is over.” 

Anne Malone, Head of Lettings, Wise Living

Wise Living began work on the site of the iconic Mansfield Brewery in 2019. The development includes a selection of one to four-bedroom homes, all named after famous people with links to the region. They also include the three-bedroom Byron with open-plan living, dining and kitchen area, and the two-bedroom Lawrence with allocated parking and fully integrated contemporary kitchen. 

Those looking for a new home have been submitting applications via the Build to Rent operators website, opposed to visiting the development.

“Almost all of those enquiring are very familiar with the location of the development, so are happy to make applications off-plan. Our dedicated lettings team are working remotely to handle all online applications and support people through the process.

“It’s testament to the huge demand for rental property so close to Mansfield, particularly for homes that are designed to challenge existing standards and offer high-quality, new build spaces for families to live in.

“We’re focused on creating and growing communities, and ultimately driving better standards of living for rental tenants and The Old Brewery has been designed to do just that. Those looking to reserve their next rental home need to do so quickly.”

Anne Malone, Head of Lettings, Wise Living

As well as The Old Brewery development in Mansfield, Wise Living also has sites in Coventry, Telford and Birkenhead. The company recently outlined its five-year growth strategy, announcing plans to build 10,000 rental homes by 2025, creating up to 100 new jobs across the UK.