With an industry already valued at £25bn* (and growing) - Build to Rent (BTR) presents you with a major investment opportunity.
Projects will create a strong, secure and long-term financial return - if investors and developers are able to anticipate and manage legal risks along the way. To create an asset with investment longevity and the right gross to net ratios, you need lawyers who understand the technical and legal challenges, and get the practical, hands-on issues for your business.
Working with Bryan Cave Leighton Paisner, you will benefit from the insight and advice of our tier-1 ranked real estate team. We act for clients working across the entire UK BTR sector – from the UK Government, to banks, investors, developers and operators. Our market connectivity working with the main BTR industry bodies allows us to anticipate your challenges at an early stage, navigate potential pitfalls and, ultimately, help make your BTR project a success.
Please get in touch for advice on managing your BTR risks, and executing your strategy.
We can advise you on:
*The Multihousing Report, Knight Frank (2017)
There are some elephants in the room.
We have advised the HCA on hundreds of millions of pounds of investment into large BTR sites under the UK Government’s infrastructure and home building funds. Sites include the Newington Butts skyscraper in Elephant and Castle, the Newfoundland Building in Canary Wharf, a 900 apartment development in the Olympic Park and residential towers at Wood Wharf.
We have acted for the innovative BTR landlord, Fizzy Living, since its move into the sector and as it expanded its portfolio. A highlight includes the Old Vinyl Factory in Hayes, Middlesex, advising on the £65million forward purchase of four residential towers, creating 630 new homes.
We have advised Tipi, Quintain’s BTR management arm, on its new homes in Wembley Park. With 5,000 apartments announced, the scheme will be the UK’s largest BTR development. Our multi-disciplinary team includes lawyers from BLP’s real estate, corporate finance, real estate finance, intellectual property and tax teams.
We have advised LaSalle Investment Management on its UK-wide investment programme in the BTR sector. Deals have included the purchase and funding of 600 apartments in Exchange Square, Birmingham, and the purchase of two BTR tower blocks in Greengate, Manchester – each site for in excess of £100m. These are two of the most significant institutional BTR investments in Manchester and Birmingham to date.
We advised the London Legacy Development Corporation on the procurement process behind their plan to deliver 1,500 homes in the Queen Elizabeth Olympic Park. This included setting-up its joint development with Balfour Beatty and Places for People, and helping the corporation retain an ongoing interest in the proposed BTR element of the project.
We advised the HCA and the Department for Communities and Local Government on the UK Government’s housing guarantees programme. The programme involves billions of pounds of investment in Government guarantees for affordable housing and BTR sectors.
We advised the HCA on its cornerstone investment in the PRS real estate investment trust (REIT). This is the first REIT to be admitted to trading on the London Stock Exchange to focus purely on the BTR sector.