Ridgeback Group has launched a new UK BTR operator brand called ila (I Live Around) and plans to deliver 4,000 homes over the next four years.
Steven McCarthy, who has more than 10 years’ experience in the PBSA sector, has been appointed as managing director of ila and will head up a team of 21 people, with the headcount expected to more than double by the end of the year.
Hairpin House (pictured) in Birmingham is ila’s first neighbourhood to complete offering 237 apartments, with the bespoke Kangaroo Works neighbourhood in Sheffield due to complete in summer 2023 providing 365 apartments.
McCarthy said: “The BTR market has undoubtedly soared over the last five years, but we are just getting started. An acute demand for high-quality and flexible rental options that respond to modern-day requirements is evident and ila will play a significant role in bridging this gap in major cities.
“ila presents a new way to rent and live. We treat every site individually and take time to understand the identity and culture of each city, so that we can deliver neighbourhoods that resonate with residents and create homes to be proud of.”
George Bossom, partner at Ridgeback Group, added: “Ridgeback’s growing portfolio of high-quality homes throughout the UK make the perfect platform for a best in class fully integrated property management firm and we believe the formation of ila will enable us to harness the full potential of our exceptional communities, giving our residents a truly different experience when it comes to renting.”
