Australian fund Aware Super has entered the UK’s BTR market after buying Qatari Diar’s 22% stake in Get Living.
Subject to final contract completion, the Australian superannuation fund will join existing investors APG and DOOR, which each control a 39% stake.
Qatari Diar was a founding investor when the BTR owner and developer launched in 2013, to operate 1,500 homes in the former Olympic Village in Stratford.
Now, Get Living’s circa £3bn portfolio spans 4,000 operational homes across three neighbourhoods in East Village and Elephant Central in London, as well as New Maker Yards in Manchester.
The business also has 6,500 homes in the secured development pipeline and its newest large neighbourhood of 650 homes will launch in Lewisham towards the end of 2023.
Future growth plans include further phases of development at East Village and consent has recently been secured for a new neighbourhood in Glasgow.
Rick De Blaby, CEO at Get Living (pictured above), said: “Firstly, I would like to thank Qatari Diar for their vision and their invaluable support and commitment to Get Living.
“Over the past 10 years, they have played a pivotal role in the success of the company, from the early days of launching Get Living in East Village to where we are today.
“In Aware Super, we are extremely privileged to have a long-term, purpose-driven and mature investor, and I look forward to working closely with the team.”
Alek Misev, senior portfolio manager (property) at Aware Super, added: “Together, we can build a solid foundation to ensure the UK's BTR housing market meets the growing demand.
“Most importantly, this investment will also offer our 1.1 million members strong, risk-adjusted returns and diversification benefits in a key-strategic region for Aware Super, within a sector that has shown strong resilience during economic downturns, and attractive long-term macroeconomic and demographic fundamentals.”
