Build-to-rent developer lands £33m investment deal

Wise Living, which is Nottingham-based SDL Group’s build-to-rent (BTR) division, has secured a £33m round of funding from real estate investors ICG-Longbow.

Wise Living already has several BTR schemes nationwide including in Birkenhead, Telford, Mansfield and Coventry. The firm says it will use the new cash to ramp up its efforts to partner with developers looking to expand into the BTR sector.

Andy Deller, director at Wise Living said: “This additional funding is a real vote of confidence that helps us move up a gear with our plan to not just build homes, but thriving communities.

“It is well documented that there is a housing shortage in the UK, and many properties don’t give families the space and comfort they need. That’s why our aim is to develop communities that tenants love to call home. The new investment means we have extra funds available to work with with more developers to de-risk their schemes and deliver the homes that tenants across the UK are crying out for.”

Kevin Crowley from ICG-Longbow said: “We are delighted to further expand our commitment to the BTR sector and to Wise Living – and are very excited to continue to support the development of good quality and accessibly priced rental homes over the upcoming years.”