We are pleased to announce that a further £33 million round of funding has been invested by real estate investors ICG Longbow, supporting our ambition of building and managing thousands of high-quality rental homes across the UK. With existing tenanted BTR schemes in Birkenhead and Telford, and construction work at our Mansfield and Coventry sites well underway, this funding will accelerate our ability to work with developers.
The investment follows research carried out by the National Housing Federation that found around 8.4 million people in the UK live in insecure, unaffordable or unsuitable homes. Our aim is to lead the revolution to change this. Andy Deller, Director at Wise Living said;
“This additional funding is a real vote of confidence that helps us move up a gear with our plan to not just build homes, but thriving communities.
“It is well documented that there is a housing shortage in the UK, and many properties don’t give families the space and comfort they need. That’s why our aim is to develop communities that tenants love to call home. The new investment means we have extra funds available to work with more developers to de-risk their schemes and deliver the homes that tenants across the UK are crying out for.”
With the support of a national property services firm with over five years of proven expertise in delivering BTR schemes, we are uniquely placed to provide all services seamlessly from under one roof – from identifying the ideal sites for our renters, through to maintaining our properties and communal spaces to a high standard. Our team is challenging the standards set in the private rental sector (PRS) by putting the tenant at the heart of everything we do, making us the provider of choice for tenants, local authorities and developers. Kevin Crowley, Partner at ICG-Longbow adds;
“We are delighted to further expand our commitment to the BTR sector and to Wise Living – and are very excited to continue to support the development of good quality and accessibly priced rental homes over the upcoming years”
Duncan Murphy, the Gowling WLG partner who led the real estate advice provided to Wise Living, added:
“This initiative is truly helping to disrupt the build-to-rent market by creating a stronger foundation of properties with higher standards than ever. We as a law firm are proud to have played a role in facilitating their latest major acquisition.”
To find out more about the Wise Living schemes, please visit https://www.wiselivinghomes.co.uk/our-locations/