Build to Rent (BTR) specialist Wise Living has taken ownership of 40 new-build apartments in Telford as part of its partnership with Lovell Partnerships.
The 40 new build one and two-bedroom apartments will form part of Lovell’s Principal Point development in Telford, where Lovell is delivering 165 homes.
Robert Simonds, business development director at Wise Living, said: “It’s great to be able to announce a second phase of PRS homes at Lovell Partnerships’ Principal Point development.
“The partnership is very important to us, particularly as the rental market continues to put in a strong performance, despite challenges in other parts of the property market and the perception of the Build to Rent and PRS sector is changing for the better.
“We’ve made no secret of the fact that our ambition is to work with more developer partners in varying ways to continue delivering affordable, quality rental homes.”
Wise Living claims more housebuilders are willing to explore the Build to Rent sector following the COVID-19 pandemic.
Wise Living said it will announce more partnerships and schemes in the next 12 months.
Stuart Penn, regional managing director at Lovell Partnerships, said: “This is the third successful scheme we have worked with Wise Living on and we are looking forward to further developing our PRS activity.
“We have always seen PRS as a key strategic element to our business helping us diversify our customer base and is a key ingredient to creating sustainable, cohesive and confident new communities.”
This post has originally been featured in Property Wire.