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Work has started on yet another Build To Rent scheme - this time a £13m project in Nottingham.
The project, on a six storey period canalside building, is a joint venture between bloc Group, CRT and Citra Living, part of Lloyds Banking Group, to create 95 residential units including 12 studios 42 one-bed flats and 41 two-bedroom flats.
A spokesperson for H2O says: “Working with our project partners, we’re revitalising an area of Nottingham with a brand new and modern offering, while maintaining and protecting enough of its character that we don’t lose its rich history.”
Ground floor amenity space for residents will also be included and the scheme is due for completion in March 2025.
Andy Hutchinson, chief executive of Citra Living, says: “Bringing disused buildings back in to use and regenerating areas into new communities is central to what
Citra is about. Regenerating the warehouse will bring much needed homes to the area, allowing more people to live in the type of quality homes they want in the areas that give them access to the facilities and amenities they want.”
Citra Living is the Build To Rent offshoot of Lloyds Banking Group: it owns and operates a portfolio of more than 2,000 homes across the UK.
Just a month ago it acquired 156 new properties from the country’s largest housebuilder Barratt as part of a strategic partnership between the two.
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Look forward to hearing how much rent they will be charging and if they will be pet friendly. Oh yes - how many of the units will be let at Housing allowance affirdability levels 🤣
😂😂 I thought the same, it will never be published 😲
Is my banker housebuilder. No.
Yes Elisabeth, you’re bankers are house builders under any other name we are being systematically replaced, they are very nice about it so they don’t tell you, just make legislation to ensure it happens.
For some reason it’s seen as marvellous when corporations create rental homes, for which they will make generous returns - but appalling profiteering if an everyday person does it. Why is that?
Very good question!!
Great point Nic. I think it’s mainly down to the media’s addiction to bad news. I suspect most tenants are happy with the service their landlord offers whichever type of landlord they are. Possibly with the exclusion of some social housing providers but not all.
I guess the BTR haven't been running for very long. Sooner or later there will be some horror stories, then the media will catch on.
Gamekeeper turned poacher. Complain to the relevant financial authority, (FCA?)
These Corporates won’t tolerate all the ripping off and abuse we are subject to. Watch this space - they will be exempt from all the regulations and will be allowed to evict. No sitting tenants for them.
One day when the corporates control everything and that day is rapidly approaching, shelter etc will look back and realise maybe the prs weren’t quite as bad as we made out
Unfortunately it’ll then be too late…
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