SDL Group is set to end 2016 by reaching a new milestone, cementing its bid to become the largest provider of Build to Rent (B2R) services in the UK.
The property specialist is on course to let its 1000th B2R property by the end of the year and is predicting a buoyant 12-months for the sector in 2017.
“It’s fantastic to be in the position to welcome our 1000th tenant, ending the year on a real high” commented Paul Staley, director of PRS at SDL Group.
“This achievement, and our continued work with clients such as Sigma Capital Group, is testament to the potential that this market holds. Several years ago we predicted that B2R would provide a major shake up in the Private Rental Sector. We’re now seeing this come to fruition.
“Back in the summer, there was a slight slowdown in the approval of funding for B2R schemes immediately after the Brexit referendum but thankfully this was short lived. After the initial shock, the big institutional lenders now appear to have an even greater appetite for the sector.
“I’m actually anticipating an increased interest in B2R due to the recent decline of the Bond markets as it offers institutions a relatively safe and secure home for their capital, whilst providing a regular and constant return, which is ideal for pension funds looking for annuity income.”
Earlier this year, SDL Group outlined plans to secure 20 per cent of the UK’s new B2R specific stock by 2020, growing its B2R portfolio to over 10,000 properties. The company now has a total B2R contract value of over £450m.
“We’ve never hidden our ambition to become the market leader and we look forward to the challenges that 2017 will bring,” concluded Paul. “We’re in a strong position with continued growth from existing clients, which is set to provide us with over 1,500 additional B2R properties in the new year, with more in the pipeline.”