L&G to deliver BTR scheme in Brighton

Legal & General has exchanged contracts to acquire land in the centre of Brighton to develop what is claimed to be the city’s first build-to-rent (BTR) scheme

Section: BTR

The development will be the seventh UK city where Legal & General is offering its new rental scheme.

The company aims to improve standards across the rental market by developing high-quality, well-managed, specifically designed housing in areas with high demand.

The development will deliver 200 homes and up to 3,000 sq m of commercial space – subject to planning approval – ideal for start-ups and SMEs.

The site is situated 200 metres from Brighton train station, which offers a fast, mainline service into a number of London stations.

“Brighton is a vibrant city where people want to live and work,” said Dan Batterton, BTR fund manager at LGIM Real Assets.

“This acquisition represents a rare opportunity to acquire land in an unrivalled location and to deliver the first institutional-grade BTR scheme.

“We look forward to working with the council to support Brighton’s talented workforce with the homes they deserve.”

James Lidgate, CEO at Legal & General Homes, added: “Brighton is a thriving city with a hugely talented workforce.

“The UK needs urban centres that are fit for purpose and can support a creative, sustainable community like Brighton.

“Our BTR pipeline is growing at pace and it is exciting to see the impact that our developments are making to our UK cities.”

Keywords: Property developer, property development, development finance, build to rent property, Brighton residential property, Legal & General, LGIM Real Assets, Legal & General Group, Dan Batterton, James Lidgate, Legal & General homes, Legal & General residential property

Source: BTL Insider — https://btlinsider.co.uk/lg-to-deliver-btr-scheme-in-brighton