Lloyds Bank’s Build To Rent offshoot announces new ...

Citra Living, the Build To Rent arm of Lloyds Banking Group, has announced another new scheme.

It is a 95-flat development at Nottingham’s British Waterways building.

Citra, which operates a growing portfolio of more than 2,000 homes across the UK, has acquired the entirety of the Grade II-listed residential unit.

The homes have been developed in partnership with H20 Urban, a long-term joint venture between developer bloc and the Canal & River Trust, which owns and manages the surrounding canal network. With a shared aim to regenerate underutilised land and buildings close to waterways infrastructure, Citra says the joint venture has aimed to maximise the social and economic potential of the sensitive canal basin site.

The flats include a mix of studio, one and two-bed homes, with residents to benefit from additional high quality communal space, as well as having access to canal-side public realm. Car parking spaces will be provided in the basement of the development, while secure internal cycle parking will also be provided to help residents take advantage of the city’s improving cycle network.

The refurbishment of the British Waterways building includes a rooftop extension that will provide eight apartments with views over the city. In keeping with the existing structure and design of the building, the parapet of the building will be used as a guard wall for the apartments, meaning much of the extension is hidden from street views.

Citra, established in 2021, has recently acquired more than 100 homes across schemes in Nottingham and Leicester being brought forward by national housebuilder Keepmoat.

Andy Hutchinson, managing director of Citra Living, says: “This unique heritage development is a major addition to our growing portfolio of homes, providing high-quality homes in an iconic and now fully revitalised building. As well as preserving this important building for years to come, the apartments will also help address a lack of purpose-built accommodation in Nottingham, as well as helping to look after the canal network.

“We’re working in partnership with a wide range of leading developers and housebuilders to address the increased demand for rental properties across the UK, and we look forward to any future opportunities our relationship with H20 Urban brings."