The emerging build to rent sector offers enormous possibilities for developers and investors – we are supporting clients to maximise their opportunities in this new asset class
Allsop’s build to rent team has helped to shape PRS and lobby favourable policy through industry professional bodies such as the British Property Federation (BPF) and Urban Land Institute (ULI). We researched and co-wrote “Invest to Rent” with London Councils and the BPF, and designed the BPF Private Rental Sector Initiative investment model. We are also familiar with the functionality of multi-family in the US having been on several tours and have contributed to both editions of the ULI’s “Build to Rent: A Best Practice Guide”.
Our long standing involvement in the PRS and build to rent market provides valuable insight into product performance and resident trends, as well as investor sentiment and planning strategy, arming us with key experience, client contacts and data for modelling and assessing build to rent. We offer a holistic build to rent service, from initial consultancy stages through to delivery and management.
Allsop is perfectly placed to advise investors, developers, landowners and Funds on all aspects of build to rent opportunities throughout the UK, assisting to maximise returns, manage risk and support long-term investment.
Allsop offers a fresh, innovative and strategic approach to build to rent, providing consultancy and advisory services on:
- Sourcing a site
- Viability / budget assessment
- Design and value adding product consideration
Recent build to rent consultancy work has included the appraisal of a number of residential development sites and existing properties eligible for residential conversion under permitted development rights legislation, where a long term rental opportunity is being considered.
Allsop has extensive experience in research and analysis for different types of build to rent product across the UK. We can assess the fundamental market drivers and demand for rental product at a granular, local level right through to overarching market fundamentals.
Our access to data and extended network of contacts allows us to source information and undertake analysis / identify trends. We collectively tap into our industry contacts and use our 100,000+ database of clients, investors, residents and tenants.
We have written a number of research publications on build to rent and the wider PRS (private rented sector), which has featured at a number of residential investment conferences, such as the PRS Forum’s Build to Rent conference in February 2016 and RESI in 2015 .
Development of build to rent product needs to be driven by thoughtful design and specification with a comprehensive understanding of the investor’s requirements, consumer needs, market fundamentals and end user considerations to ensure gross to net operating income and return on investment is maximised. Management knowledge and strategy is an essential cornerstone of development decisions from day one, as management experience and data provide the proof points for a development’s success and inform future decisions.
Allsop has been operating large scale residential portfolios for 17+ years. Our services include:
- Product design and specification
- Service offering
- Centralised services
- Facilities, block and property management
- In-residence care
Accurate property valuation is essential for informing investment strategy and decision making, and when it comes to a nascent sector like built to rent, experience and insight are essential.
Boasting an enviable list of built to rent case studies, our specialist valuers fundamentally understand the nuances of this emerging asset class. Having worked with a broad client base on a range of single and mixed use developments over the past two decades in the private, public and charity sectors, they use their breadth of experience to value engineer opportunities and maximise property value for the benefit of clients.
Financial probity, risk and reward can only be managed through the best possible independent and up to date advice. Our service provides robust asset and rental value assessments that inform viability, design, planning and the potential for alternative development options and is also essential for borrowing, tax planning, acquisition and disposal.
Allsop has strong relationships within the institutional and private equity markets, with access to investors at the forefront of the investment market. Our experience of working with funds means we know who is in the market and what they want, allowing us to assess the suitability of investments for our clients.
We provide best advice to developers, from development conception right through to the sales and marketing campaign. We pride ourselves in delivering a high quality service and bespoke marketing particulars, selling not just a building, but also the ‘story’ of the completed development and its positioning in the micro and macro rental markets.
Our experience and market knowledge, give our clients comfort that the investment is attractive to prospective capital partners and enable us to deliver the level of information required by the institutional funding market.
The Keel, Liverpool
240 high quality waterside apartments with onsite amenities and services developed by Moorfield, located on Kings Dock just minutes from Liverpool city centre. Allsop provided advice on local demand and strength of the rental market, appropriate mix of apartments and amenities, scheme design and layout, strategic management plan and indicative valuation projection.
Abbeville Apartments, Barking
100 high quality build to rent apartments constructed above an Asda Supermarket with on-site amenities and services. This scheme was the first modern purpose built to rent scheme delivered in the UK. As Grainger PLC’s valuers, we are responsible for valuing
Abbeville Apartments bi-annually for accounting purposes.
Baltic Triangle, Liverpool
324 unit purpose build to rent scheme with 360 car parking spaces and 578 sqm of commercial space. We provided valuation advice to the development finance lender for
the project prior to the sale to Hermes. Our work incorporated in depth product
assessment for long term rental, analysis of design, product specification, build cost, market demand, unit mix and cashflow projections.
River Crescent, Nottingham
A premium waterside development completed in 2008. Appointed to manage in 2011, Allsop have achieved sustained rental growth and increasing levels of demand. Amenities include residents’ gym, pool, Jacuzzi, on-site concierge, estate manager and cleaning staff.
Ink Court, London E3
A purpose built block completed in 2012, comprising 112 flats and 65 parking spaces. Concierge service and all property management carried out by Allsop. A high level of customer service has attracted professionals and families and promoted increased lengths of stay.
Hoola, London E16
Allsop has been appointed the block managing agent for Hoola, a new and iconic riverside development. Comprising two 23 and 24 storey towers with glass balconies, residents will enjoy views over the Royal Docks and City of London. The towers are set in landscaped surroundings with amenities including concierge service and parking.