Apache Capital has created a new business division to develop, own and operate single-family rental UK homes.
The investment manager said the newly launched arm, known as Present Made, will deliver over 3,000 smart homes as part of its first phase, with a focus on suburban locations across southern England.
Apache Capital said the first three sites in Present Made鈥檚 拢1.6bn (鈧�1.9bn) development pipeline are located in the Oxford-Cambridge Arc.
Present Made is Apache Capital鈥檚 second UK build-to-rent platform after its 拢2bn multifamily joint venture with Moda Living.
Richard Jackson, managing director and co-founder of Apache Capital and CEO at Present Made said: 鈥淔our years in the making, Present Made from the outset has been designed around our future residents鈥� needs and the growing importance of ESG considerations to both our residents and investors alike.
鈥淒espite record numbers of families renting, no purpose-built single-family rental housing exists in the UK. Present Made will cater to this growing but under-served segment of the rental market by providing high-quality smart homes designed and built specifically for rent, delivered through precision engineering and operated by our own dedicated in-house team.鈥�
Sue-Lin Heng, managing director at Eastdil Secured, said: 鈥淭he disruption caused by COVID-19 has encouraged investors to explore new emerging asset classes that are structurally supported and less vulnerable to technologically-driven trends. As such, we are seeing clear and growing investor interest in the UK single-family housing market.鈥�
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