Build to Rent (BTR)

Build to Rent (BTR)

The BTR opportunity

The UK is experiencing growing demand for rental housing. As the population increases, would-be home buyers are faced with high prices and restricted access to finance. Renting quality property with good amenities, by comparison, has big flexibility advantages and can provide access to prime locations where owning a home is prohibitively expensive.

Despite the demand, supply of quality rental housing is still low. Commercial property investors are rushing to meet this opportunity. With the right kind of developments, they will be rewarded with secure and valuable assets for the long-term.

Take a look at some recent case studies and get in touch with our team to talk about your next project.

Click here to jump straight to TFT’s expert advice for BTR developments.

Recent BTR experience

Colindale Gardens, London

TFT is Development Monitor for the forward-funding of this block of 186 apartments, to be retained and operated as build-to-rent by M&G.

The scheme's developer is a traditional homebuilder with little experience of the private rented sector, so TFT has been appointed to fill this gap by appraising the development with a focus on long-term investment value and quality of asset.

Our advice helps M&G create quality amenity spaces and services for end users, with high quality build and materials for low maintenance and running costs.

Read the full case study here

The Transport Interchange, Cardiff

TFT is Development Monitor on this mixed-use scheme at the heart of Cardiff, for Legal & General Capital.

The scheme includes 318 build-to-rent apartments within a new 1m sqft central business district adjacent Cardiff Mainline Station. TFT was appointed to monitor the scheme as part of Legal & General's portfolio of 10 new flagship office buildings constructed for HMRC occupancy.

Read the full case study here

Edward St Quarter, Brighton

TFT is Development Monitor on this mixed-use scheme in the centre of Brighton, for M&G.

We're supporting M&G's forward-funding of 75 residential units which M&G will retain and operate as build-to-rent.

Our support includes many roles above and beyond the traditional monitoring responsibilities, including enhancing the amenity spaces and monitoring the developer and its team throughout the build.

Read the full case study here

Ensuring BTR success

BTR developments require a careful and quality-oriented approach. Because investors typically become the owners and operators of their buildings, the operational performance of these assets must reflect their brand and reputation. Not only do projects need to run on time and to budget, but the quality and resilience of the end product is paramount. We therefore rigorously interrogate specifications and negotiate with developers to ensure that our clients are buying into a quality offering. We make recommendations to mitigate our client’s capital expenditure and maintenance costs over the lifetime of the asset.

We also understand how to create homes where people want to live for the long-term.

That means knowing which materials will withstand daily life. Which cupboard doors won’t fall off? Which floors won’t scuff? Which surfaces won’t stain? Equally important is knowing when to inspect, checking voids before they are closed up and increasing the frequency of commissioning and testing regimes for increased scrutiny.

It also means understanding how to grow communities which set the best residential schemes apart from the rest. Typically, amenity areas are due to be handed over to clients in shell and core condition. We take a proactive approach, assisting our clients to create effective co-living amenity areas in time for project handover. In this role, we act as our client’s representative, making sure that these key spaces are fit-out to align with their vision, and market trends. From roof terraces, gyms and games rooms to bars and co-working areas, it’s all possible.

At the end of the project, a smooth handover makes all the difference to allow property agents to get familiar with the building and start to bring in tenants. We facilitate handovers on behalf of our clients on all schemes, working as an intermediary to onboard our client’s property managers.

Expert advice for BTR developments

At TFT we have the skills only accessible through experience, to offer the best service to our clients in connection with build to rent schemes.

TFT works as both Development Monitor and Project Manager / Cost Consultant on numerous BTR schemes, with live projects in London, Birmingham, Brighton, Bath and Cardiff, as well as various other locations across the UK.

Our depth and breadth of involvement means we can identify patterns and pitfalls in these unique and complex development arrangements. We are able to confidently provide technical advice in connection with funding agreements and assist in the negotiation process.

We embed ourselves within our client’s team to fully understand the brief, feel and experience that is required from the completed project.

Our understanding of BTR-specific client requirements means we are well-equipped to assist investors in navigating this growing and valuable sector with our project management, project monitoring, and cost consultancy services.

Take a look at some of our latest BTR projects here. Get in touch with our team to find out more about how we can help you.