We’re pleased to announce we’ve taken ownership of 40 new-build apartments in Telford as part of our ongoing partnership with Lovell Partnerships.
This is the third scheme to be completed since Wise Living announced its partnership with the developer, working together on family housing PRS opportunities across the UK. We are also working with a range of other partners to deploy the significant investment it has raised over the last 12 months, with a number of other schemes currently being worked on, which are set to be announced shortly.
The 40 new-build one- and two-bedroom apartments will form part of our Principal Point development in Telford, which already includes 41 fully let two to five-bedroom homes built by Lovell.
Commenting on the new apartments, Robert Simonds, our Business Development Director, said:
“It’s great to be able to launch phase two of Principal Point in partnership with Lovell. 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.”
Following the Covid-19 pandemic, we’ve seen a number of housebuilders start to shift their thinking and plans on current schemes, with an increased willingness to explore the Build to Rent sector, providing developers with options to guarantee both income and a secure exit from developments.
Regional Managing Director at Lovell Partnerships, Stuart Penn, added:
“This is the third successful scheme we have worked with Wise Living on and we very much hope it will not be the last. We have always seen PRS as a key strategic element to our business helping us diversify our customer base”
If you’re interested in becoming a development partner of Wise Living, contact our Business Development Director, Robert Simonds.