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UK: Ringley Group has hired build-to-rent (BTR) pioneer Harry Downes to grow its UK living division.
Downes, the founder of Fizzy Living, was one of the UK’s BTR pioneers, overseeing the creation of a portfolio of more than 1,000 units across London and the south-east. Downes stayed on at Greystar as director of investment management after it acquired Fizzy Living, and in May last year he announced the launch of a new BTR platform with former Greystar director Jamie Spencer.
He joins Ringley as divisional CEO – multi family, and will oversee the group’s portfolio of BTR and later living assets.
He will work alongside group chairman Martin Samworth, CEO Richard Williams, and founder and group managing director Mary-Anne Bowring.
A key area of focus will be to help house builders with unsold, empty stock pivot towards BTR as a solution to provide immediate occupancy and income, while increasing the value of their asset in what remains an uncertain and challenging market.
Downes said: “I’m excited to be joining Ringley and can’t wait to get started. With growing institutional interest, a record year for investment and a clear role to play in supporting the UK’s housing targets, the BTR market is ripe for growth. In the current climate house builders are stymied with unsold properties where the options of leaving unoccupied or selling at a considerable loss remain equally unappealing. Going down the third route of pivoting to BTR can seem daunting, but Ringley can bridge that gap with a ready-to-go management system, which is the best in the business, generating immediate stable income and enhancing the asset’s value.”
Samworth added: “Harry is undoubtedly one of the most well-known names and respected leaders in the BTR sector, and his appointment marks a significant step forward for Ringley. His decision to join us reflects the strength of our data-driven platform, where we are driving a paradigm shift in living management.” BTR has a critical role to play in delivering high-quality, professionally managed homes at scale. His expertise and deep relationships in this sector will be an invaluable asset for our business and we’re well set to capitalise on a growing sector.”
Highlights:
- Ringley Group has appointed build-to-rent (BTR) pioneer Harry Downes to grow its UK living division
- He joins Ringley as divisional CEO – multi family, and will oversee the group’s portfolio of BTR and later living assets
- Downes founded Fizzy Living in 2012 and stayed on with Greystar as as director of investment management after it acquired Fizzy Living
