Investor partnership the 鈥渕ost productive way of delivering increased [BTR] development鈥� says housebuilder
Telford Homes has hired Savills, the estate agent, to find an investor to help increase its activity in the build-to-rent sector.
In a statement to investors today the AIM-listed housebuilder said the BTR sector formed a significant part of its growth strategy and it had recently started talks to sell 257 homes in Walthamstow, east London, expecting to exchange contracts 鈥渋n the next few months鈥�.
It said it believed its previously stated ambition of creating an investor partnership remained the 鈥渕ost productive way of delivering increased [BTR] development.
鈥淲e are determined to find the right investor to fit with our London focus and with a long term commitment to the sector,鈥� it added.
Having instructed Savills to assist in the process the firm said it expected to make 鈥渟ignificant progress鈥� on a deal by the end of 2018.
Last year Telford Homes signed a one-off deal with build-to-rent investor firm Greystar to deliver 894 build to rent homes at Nine Elms in Battersea.
In its AGM statement Telford Homes also said it was 鈥渨ell placed鈥� to hit its target of more than 拢50m pre-tax profit for the current financial year, which ends on 31 March 2019.
Last year the housebuilder reported pre-tax profit of 拢46m on turnover of 拢316.2m.
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