UK: Amro Partners is planning major growth for its UK BTR and European PBSA portfolios over the next four years.
The majority of the portfolio will be added by acquiring sites, securing planning and developing schemes. The remainder will be reached by acquiring operational assets that meet the company’s funding requirements or which it can reposition.
It is looking to purchase sites in London, Manchester and Birmingham, and will acquire sites pre-planning on both an unconditional and subject-to-planning basis. It will consider brownfield sites and reposition of substantial existing buildings.
A parallel strategy will also see the company grow its European PBSA platform to €2 billion over the same period.
Tom Donnachie, managing director, UK Investment, at Amro Partners, said: “The UK acquisition strategy represents a significant scale up of our residential living platform and a step change in our rate of expansion across the UK and Europe. We’re aiming to reach £2 billion gross portfolio value in UK BTR over the next four years. In Europe, we are also aiming to reach €2 billion gross portfolio value in European student housing over the same period.
“We’re on a major acquisition drive in the UK and have capital available to deploy on sites that fit our investment criteria. We’re seeking opportunities in London but also, for the first time, in key regional cities including Manchester and Birmingham where we can tap into compelling tenant demographics and where there’s proven demand for high quality rental homes. We’re keen to speak with any agents, brokers, landowners and professional consultants with urban sites in these locations that have excellent transport connectivity and capacity for between 200 to 1,000 BTR units and can acquire either unconditionally or subject to planning.”
