New build-to-rent jv signs deal with Morgan Sindall-owned contractor
Build-to-rent outfit Wise Living has teamed up with contractor Lovell to deliver a range of privately rented homes across the UK.
Lovell, the residential arm of Morgan Sindall, will build the homes for Wise Living, a joint venture created last year by property management firm SDL Group and ICG-Longbow, the real estate operation of investment group Intermediate Capital Group.
Wise Living will own the properties, which will be managed by SDL.
Wise Living said it planned to deliver more than 5,000 build-to-rent (BTR) homes across the country in the next five years, with 2,000 units expected to be built by 2023.
Lovell has already completed two schemes with Wise Living, in Birkenhead and Telford, building a total of 81 homes across both developments.
Last year Lovell was appointed to work on the first phase of transforming the Cot Farm estate in Newport, described as one of Wales’ most troubled housing developments, creating 56 homes and apartments for social rent.
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