Projects that could realise as many as 10,000 homes for private rent receive share of 拢700m through Build to Rent Fund

Gallery Apartments

The Homes and Communities Agency has announced the detail of the first 45 projects that will be taken forward through its 拢1bn Build to Rent Fund (BRF), which could realise as many as 10,000 new homes for private rent.

The BRF is designed to help developers invest in homes built specifically for private rent by reducing the up-front risk in a relatively untested market. 

The HCA said the projects going forward have the potential, subject to due diligence, to deliver between 8,000 and 10,000 homes. Of the 45 projects to be given the green light a quarter are in London.

The BRF was initially set at 拢200m but was increased to 拢1bn in the Budget last month.

The HCA said the first round of 45 projects would now proceed to a competitive clarification and due diligence process, to receive a share of 拢700m, with a second round of bids for the remaining Fund expected to open later this year.

Richard Hill, HCA deputy chief executive, said the BRF was 鈥渁 fantastic opportunity to bring about a step change in the way we meet the growing demand for rented homes in this country鈥�.

鈥淥ur role is to ensure that the right schemes are supported in the right places, allowing quality and well-managed homes to come forward quickly to meet local demand,鈥� he said.

The HCA also confirmed the full membership of the expert Private Rented Sector Taskforce, headed by Andrew Stanford, which will work with bidders to support them in refining proposals for viable future investment.

The panel includes:

  • Julian D鈥橝rcy of Kirkby Capital, a former regional Chairman and proprietary partner at Knight Frank.
  • Joanna Embling, a property consultant and Chartered Surveyor, specialising in Urban redevelopment and a former equity partner at Cushman Wakefield.
  • Tracey Hartley, a specialist asset manager for large scale residential landlord Grainger plc.
  • Dominic Martin, Senior Analyst at EC Harris and a qualified surveyor.

Successsful bidders in first round of BRF     

  • A2 Dominion Housing    
  • Blackswan Property     
  • Bouygues Development   
  • Bovis Homes    
  • Broomleigh Regeneration
  • Carillion-Igloo
  • Carpenter Investments  
  • CCURV LLP      
  • Chestnut Homes 
  • Clearstorm     
  • Climate Energy Homes   
  • Countryside x 2
  • Crest Nicholson
  • CS Capital Partners    
  • Derwentside Homes      
  • Evenbrook Capital      
  • Genesis Housing Association    
  • Geronimo       
  • Granger
  • Greenwich Peninsula    
  • Housing Solutions      
  • Hurst Street   
  • Inland Homes   
  • Keepmoat       
  • Kier Project Investment
  • YH Residential 
  • Lendlease      
  • Lovell Partnerships    
  • LPC Living     
  • Mill Group     
  • Mount Anvil    
  • Muse Developments      
  • Network Housing Group  
  • Notting Hill Housing   
  • Orbit Homes 2020       
  • Persimmon Homes
  • PlaceFirst x 2 
  • Plus Dane      
  • Quintain Estates       
  • Regeneration   
  • Relta  
  • South Yorkshire Housing Association    
  • Taylor Wimpey  

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