UK: Royal London Asset Management Property has made its first move in the BTR sector, with the acquisition of two developments totalling 500 apartments.
With seven blocks ranging from four to 16 storeys, The Beeches in Bracknell will deliver 349, with amenities and features including a gym, lounge, coworking spaces, concierge and landscaping. The development is aiming to achieve BREEAM Excellent, with EPC A and B ratings. The forward-funded scheme is expected to complete in Q2 2027.
The second asset is already completed – the nine-storey Aspire development in Slough, which includes 151 apartments. With an EPC rating of B and above, the Aspire has been sustainably designed, featuring LED lighting and electric heating, alongside air source heat pump hot water. Residents also benefit from EV charging points.
Both The Beeches and Aspire schemes will be managed by Royal London’s newly launched residential property management platform ProperTies Living.
Tim Holden, director of ProperTies Living, said: “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.”
Royal London is targeting an 8,000-home BTR and SFR portfolio in underserved suburban and commuter markets in the UK’s largest cities, mid-sized regional towns and district centres.
Mark Evans, head of property at Royal London Asset Management Property, said: “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.”
