Wise Living appointed by PGIM to manage SFH BTR homes

Bolstering its successful partnership with PGIM, Wise Living has been appointed to manage and let 918 single-family housing (SFH) Build to Rent homes.

Paul Staley, Director at Build to Rent specialist, Wise Living | BTR News
Paul Staley, Director at Build to Rent specialist, Wise Living.

Specialist SFH Build to Rent advisory business Wise Living has announced that it has been appointed by PGIM Real Estate to manage and let a 918-home portfolio in the Northwest of England. 

Located across 15 different schemes in Manchester and Liverpool, the portfolio was purchased last year by PGIM Real Estate’s UK Affordable Housing strategy – as of March 2024, the portfolio has invested over £300m across 28 different housing schemes.

Wise Living has maintained a partnership with PGIM Real Estate since 2021 and now undertakes property management across PGIM Real Estate’s affordably let SFH portfolio. 

“It’s an exciting time to be in the Build to Rent market and within SFH specifically. We’re seeing private landlords exit the market more and more and, within those still operating, much of the stock available just isn’t up to scratch and isn’t to the standard that today’s renter expects. This is where SFH Build to Rent comes in, offering a solution to this growing problem and filling the market with high-quality, professionally managed homes which offer a solution to both institutional investors and the growing list of hardworking families that want somewhere safe, warm and sustainable to live.

“With this new appointment we’re proud to now be one of the UK’s biggest SFH managers, after operating in the space for a decade. At the end of 2023, we reported that we experienced double-digit market rental growth across the homes that we managed at Wise Living, with increasingly stable occupancy rates now sitting just over 98%.

“Though indicative of a strong market, this is also a testament to our team’s ability to truly harness the power of community, which in turn makes every development a sought-after place to live. With this new portfolio, we’ll manage and let the schemes in-house, delivering a high quality and industry-leading standard of care. We’ve also actively expanded our existing team to deliver this substantial project.”

 Paul Staley, Managing Director, Wise Living

Wise Living offers a full range of investment, development and property management services. The company has been operating for over 10 years and has successful and experienced teams.

Wise Living has delivered over 7,500 new single-family homes with a GDC of c. £1.9bn for the leading Build to Rent investors.