Ringley Group has appointed build-to-rent (BTR) pioneer Harry Downes to accelerate the growth of its UK living business.
He joins the group as divisional CEO – multi family and will oversee Ringley’s portfolio of living assets, including BTR and later living.
Downes was one of the early pioneers in the UK BTR sector, establishing Fizzy Living in 2012. Over the next 10 years, he oversaw the creation of a portfolio of more than 1,000 units across London and the South East. Following Greystar’s acquisition of Fizzy Living in 2022, he spent more than three years leading GreyStar’s BTR investment platform.
In his new role, he will work alongside group chairman Martin Samworth, CEO Richard Williams and Founder and group managing director Mary-Anne Bowring to drive the company’s next phase of growth.
A key area of focus will be to help housebuilders with unsold, empty stock pivot towards BTR as a solution to provide immediate occupancy and income, while increasing the value of their asset.
Downes said: “I’m excited to be joining Ringley and can’t wait to get started. With growing institutional interest, a record year for investment and a clear role to play in supporting the UK’s housing targets, the BTR market is ripe for growth. In the current climate housebuilders are stymied with unsold properties where the options of leaving unoccupied or selling at a considerable loss remain equally unappealing. Going down the third route of pivoting to BTR can seem daunting, but Ringley can bridge that gap with a ready-to-go management system, which is the best in the business, generating immediate stable income and enhancing the asset’s value.”
Samworth added: “Harry is undoubtedly one of the most well-known names and respected leaders in the BTR sector, and his appointment marks a significant step forward for Ringley. His decision to join us reflects the strength of our data-driven platform, where we are driving a paradigm shift in living management. BTR has a critical role to play in delivering high quality, professionally managed homes at scale. His expertise and deep relationships in this sector will be an invaluable asset for our business and we’re well set to capitalise on a growing sector.”
