Clarion Housing Group has announced plans to build 3,000 new Build to Rent (BtR) homes in the next five years. The purpose built homes will be delivered in growth areas across London, the South East, West Midlands and Greater Manchester and will make a contribution to Clarion’s strategic objective of developing 50,000 homes over ten years.
The Group has an existing private rented portfolio of 800 homes, but the intention to build 3,000 new Build to Rent (BtR) units by 2023 marks a new phase of investment and growth. The new BtR portfolio will be focused on mid-market customers, who live outside of city centres and are seeking good value homes, with medium to long-term tenancies.
Clarion Housing Group is committed to providing a high quality customer experience, with tenants benefitting from Clarion’s extensive experience as a landlord and track record of creating desirable and sustainable communities. The service offer for residents will be based on a set of core principles:
- Creating a sense of community in every development.
- Long term and sustainable tenancies.
- Exemplary levels of customer service.
- A commitment to the environment and sustainability.
- The use of technology to support modern living.
- Excellent value for money.
A number of potential sites for delivery of the BtR programme have been acquired, with many more in the pipeline. The provision of new Build to Rent homes will form part of Clarion’s £1billion pound estate regeneration project in Merton, which will deliver around 2,800 homes in total.
Mark Washer, Chief Financial Officer at Clarion Housing Group commented:
"To build the homes the country needs, Clarion is committed to developing at a range of different price points and tenures. Our expanded Build to Rent portfolio will target the middle of a rapidly expanding market of renters, delivering greater choice and a quality product to consumers who cannot afford the jump to home ownership.
"In total, we expect to develop BtR assets with a GDV worth around £800m over the next five years. We are excited by the prospect and are now seeking strong and compatible investment partners to work with us to deliver build to rent for long-term return."