Build-to-rent venture announces completion of apartment scheme

Build to Rent (BTR) specialist Wise Living has taken ownership of 40 new-build apartments in Telford as part of its ongoing partnership with Lovell Partnerships.

This is the third scheme to be completed since Wise Living announced its partnership with the developer, working together on family housing PRS opportunities across the UK.

The 40 new-build one and two-bedroom apartments will form part of Lovell’s Principal Point development in Telford, where Lovell is delivering 165 homes.

Robert Simonds, business development director at Wise Living, said: “It’s great to be able to announce a second phase of PRS homes at Lovell Partnerships’ Principal Point development.

“The partnership is very important to us, particularly as the rental market continues to put in a strong performance, despite challenges in other parts of the property market and the perception of the Build to Rent and PRS sector is changing for the better.

“We’ve made no secret of the fact that our ambition is to work with more developer partners in varying ways to continue delivering affordable, quality rental homes.”

Regional managing director at Lovell Partnerships, Stuart Penn, added: “This is the third successful scheme we have worked with Wise Living on and we are looking forward to further developing our PRS activity.  We have always seen PRS as a key strategic element to our business helping us diversify our customer base and is a key ingredient to creating sustainable, cohesive and confident new communities.”

Alongside Principal Point in Telford and Minshull Way in Birkenhead, Wise Living has a number of developments across the UK, including in Mansfield and Coventry.