Royal London Asset Management Property has made its build-to-rent (BTR) debut with the acquisition of 500 apartments and set out its stall to build a portfolio of 8,000 units in the UK.
It has purchased the nine-storey Aspire BTR block on Herschel Street in Slough, which offers 151 apartments and was completed in spring 2024, and the forward-funded The Beeches development in Bracknell, which comprises 349 apartments and is due to complete in Q2 2027.
The assets will be managed by the company’s newly launched residential property management platform ProperTies Living.
Mark Evans, head of property at Royal London Asset Management Property, said: “At Royal London Asset Management Property, we aim to generate long-term income for our pension customers by investing in future-proof, resilient assets across sectors. As the build-to-rent market strengthens and demand for high-quality homes in UK cities grows, now is the right time for us to enter the sector.
“The launch of our vertically integrated residential management business, ProperTies Living, is crucial to our movement into the residential sector. In keeping with our commitment to being a responsible investor, it will allow us to be closer to our occupiers, understanding their needs and ensuring that our product provides a high standard of living for generations to come.”
Tim Holden, director at ProperTies Living, added: “We launched ProperTies to provide a solid, secure and comfortable living space for a wide variety of people from young professionals to families across the country. With this vehicle, we can use our combined experience in the build-to-rent space to deliver developments that have the lifestyles of our tenants in mind. We look forward to working closely with our investment colleagues to advise on opportunities, engage with our residents and deliver the best possible service and amenities at future schemes.”
