Build to Rent specialist Wise Living has taken ownership of 40 new-build apartments in Telford – which is part of an ongoing partnership with developer, Lovell Partnerships. This is the third scheme to be completed since Wise Living announced its partnership with the developer, working together on family housing PRS opportunities across the UK.
“It’s great to be able to announce a second phase of PRS homes at Lovell Partnerships’ Principal Point development.
“The partnership is very important to us, particularly as the rental market continues to put in a strong performance, despite challenges in other parts of the property market and the perception of the Build to Rent and PRS sector is changing for the better.”Robert Simonds, Business Development Director, Wise Living
The 40 new-build one- and two-bedroom apartments will form part of Lovell’s Principal Point development in Telford, where Lovell is delivering 165 homes. Wise Living is also working with other partners to deploy the significant investment it has raised over the last 12 months, with a number of other schemes currently being worked on, which are set to be announced shortly.
Alongside Principal Point in Telford and Minshull Way in Birkenhead, Wise Living has a number of developments across the UK, including in Mansfield and Coventry.
“We’ve made no secret of the fact that our ambition is to work with more developer partners in varying ways to continue delivering affordable, quality rental homes.”Robert Simonds, Business Development Director, Wise Living
Following the Covid-19 pandemic, Wise Living has seen a number of housebuilders begin to shift their thinking and plans on current schemes, with an increased willingness to explore the Build to Rent sector – which provides developers with options to guarantee both income and a secure exit from developments.
“This is the third successful scheme we’ve worked with Wise Living on and we’re looking forward to further developing our PRS activity. We have always seen PRS as a key strategic element to our business helping us diversify our customer base and is a key ingredient to creating sustainable, cohesive and confident new communities.”Stuart Penn, Regional Managing Director, Lovell Partnerships