Ecotek Homes and Gresham House announce a new £1billion nationwide build-to-rent (BTR) partnership
Ecotek Homes has announced a new £1billion partnership with specialist investment group Gresham House, which will see the development of over 5,000 new single family homes in urban-fringe locations across the UK. The partnership will focus on bringing forward high-quality, sustainable and modern build-to-rent housing. Avison Young Residential Capital Markets sourced the Gresham House investment on behalf of Ecotek Homes.
With the build-to-rent sector forecast to grow in excess of £200billion over the next few years and with families seeking more affordable alternatives to traditional mortgage options, the partnership will deliver accessible and professionally managed rental housing at pace by harnessing modern methods of construction.
The new homes which will be developed under the partnership will not only be constructed using modern construction techniques and materials, but they will also support healthier communities and promote resident wellbeing through how they are designed, built and managed. Furthermore, on average the homes will use up to 50% less energy than a traditionally built home, decarbonising the construction cycle and reducing embodied and operational emissions
The partners have already acquired their first site in the North West, where work has commenced on-site to deliver 156 quality homes of mixed-tenure including build-to-rent, for sale and affordable. The team are concurrently securing a healthy pipeline of additional suburban sites across the UK.
Stephen Haigh, CEO of Ecotek Homes, said:
Our ethos is based on years of research, experience and a desire to fix the UK’s broken housing market. Our partnership with Gresham House will deliver over 5,000 new mixed-tenure, greener homes into the housing market, and together we aim to encourage a culture of innovation, accountability and positive change to the housing sector. With our first project commenced on site, we’re already working to deliver on our ambitions.
Joe Thomas, Investment Director at Gresham House, said:
We’re delighted to be working with Ecotek Homes to accelerate delivery of high-quality, affordable housing across the UK. The team’s approach is progressive and they are natural partners for our business. This tie up with Ecotek Homes aligns with our sustainability strategy and will drive consistent returns for our investors, whilst also bringing much needed consumer choice to the housing market.
Richard Stonehouse, Principal, Head of Residential Investment at Avison Young, said:
Avison Young Residential Capital Markets are delighted to have been able to obtain a strategic capital partner who has the vision and experience to meet Ecotek’s ambitious BTR growth plans and ESG objectives. It is always satisfying to see a successful outcome but even more so when the end product will have such a lasting positive social legacy.