Lovell has announced a multimillion-pound partnership with Wise Living to deliver new low-rise suburban family homes for the build to rent sector.
Wise Living, established in 2018, is a joint venture between ICG-Longbow and the SDL Group. The company aims to become a major player in the build to rent (BTR) family housing sector by challenging existing standards, creating new communities and ultimately driving improved living standards for its tenants. It is already developing several build to rent schemes with a number of regional house builders and developers and is set to deliver over 5,000 BTR family homes nationwide over the next five years.
Lovell’s partnership with Wise Living comes as a natural extension to its current business model and is expected to generate significant growth over the next five years. Lovell will act as developer and contractor, creating homes which will be owned by Wise Living and managed by SDL Group.
The new partnership is already underway with two schemes announced in Birkenhead and Telford, consisting of 40 and 41 homes respectively. These homes are expected to be available to let from April 2019.
David Gough, Lovell’s Regional Managing Director for the South, commented: “This new partnership will help answer the ever-increasing demand for quality rented homes offering families the space they need in well-located neighbourhoods. We’re extremely pleased to bring Lovell’s expertise in developing and delivering new homes built to the highest standards to this new collaboration and look forward to working with Wise Living to deliver much-needed, flexible family homes.”
Andy Deller, Group Strategy Director for SDL Group, said: “We are delighted to be working with Lovell to deliver high-quality, purpose-built family homes across the UK. This is an exciting opportunity to meet the needs of an underserved but ever-growing rental market. We are eager to bring to life our vision of revolutionising the customer’s experience of renting.”