SFR venture surpasses £500m in assets with housebuilder deal

The single-family rental (SFR) venture between Packaged Living and Aviva Investors has surpassed £500m in assets following a recent deal.

SFR Build to Rent homes | Packaged Living | BTR News
SFR Build to Rent homes.

A SFR joint venture between sustainable living specialist Packaged Living and the global asset management business of Aviva plc, Aviva Investors has announced that it has struck a forward-funding deal with a housebuilder that will see its portfolio grow to £500m in just three years.

Aviva Investors and Packaged Living recently completed a deal to forward-fund the development of 174 new homes in Hampshire, with a GDV of c.£60m. This is the sixth deal for the pair since launching their single-family housing (SFH) Build to Rent platform in November 2021. 

Together, the partnership currently has 1,400 SFR homes with a capital value of £500m. Homes are either operational, in the construction or planning stages, or under exclusivity.

The Partnership platform between the two firms aims to increase the supply of affordable and energy-efficient SFR homes across the UK. Rather than using gas-powered alternatives, all homes in the portfolio will use air-source heat pumps and electric-only energy solutions.

The SFH Build to Rent model was traditionally the preserve of the north-west, Packaged Living said in a statement. However, the Hampshire acquisition is consistent with the ‘home-counties’ weighting of the partnership’s portfolio, confirming that suburban Build to Rent has come to the South East.