Suburban Build To Rent niche gets boost from lettings agency

Leaders Romans Group's Suburban Build To Rent team has been appointed to jointly manage and maintain over 100 Build to Rent units at Buckler’s Park near Wokingham.

Buckler’s Park, which is being built out by Cala Homes, is a new community of contemporary-styled homes in the Berkshire countryside adjoining LRG’s headquarters, Crowthorne House. The homes are situated in over 100 acres of natural space and adjacent to a new country park.

Andy Jones, group director of corporate and BTR at LRG comments: “Investment in BTR reached record levels during 2022 and it is no coincidence that this has occurred as BTR expands beyond traditional city apartment units into communities such as this. Despite the threat of a recession, the BTR market is set to grow substantially, as the cost-of-living crisis and rising mortgage rates potentially deter would-be first time buyers from stepping on to the property ladder.

“And BTR suburban communities have evolved to meet growing demand. In contrast to traditional BTR, this new iteration focuses on suburban rather than city locations, families rather than young professionals, houses rather than apartments, and typically offers shared outdoor spaces in place of indoor co-living. 

“The BTR suburban communities model translates the hugely popular values of traditional BTR into a new context.”

Legal & General has a substantial track record within the BTR niche. 

Having launched its Build to Rent Fund in 2017, it now has over 5,500 homes in operation or development across towns and cities. 

Its suburban BTR sector, however, has lacked the same concentration of investment. A statement from the firm says: “Recognising this untapped potential and the societal need for high quality family homes to rent, Legal & General is at the forefront of institutionalising the suburban rental sector through its L&G suburban BTR business.”