Tag: BTR

Councils urged to harness investment to meet growing rental crisis

A leading trade body is urging newly-elected Scottish Councils to embrace investment in build to rent (BTR) and co-living to help address the current housing crisis, addressing nationwide shortages of rental stock and providing additional housing supply to help meet housing targets.

The call comes from the UK Apartment Association (UKAA), which recently launched in Scotland at an event in Glasgow.

BTR is a relatively new model for creating new homes in the UK, where all the properties are built for rent, not for sale and are located in close proximity to amenities, places of work and transport links.

Co-living is a type of communal living in which residents get a private bedroom, with the opportunity to share meals and discussions in common living areas.

Data from the Royal Institution of Chartered Surveyors (RICS) shows that in Scotland demand for rental housing had risen by over a third in the last three months, while supply had dropped by around 50 per cent, leading to an expectation that rents in Scotland will rise faster than in England and Wales.

However, the pipeline for BTR in Edinburgh and Glasgow represents just 6.7 per cent and 10 per cent of current private rented sector households, respectively. There is great capacity therefore for growth given the pipelines in Manchester, Birmingham and Leeds represent 29.6 per cent, 15.5 per cent and 13.1 per cent of current PRS households

BTR schemes in Glasgow include proposals for 324 homes at Buchanan Wharf and 685 BTR and co-Living homes at Portcullis House, with 338 homes at Skyliner and 476 homes at Fountainbridge in Edinburgh.

Brendan Geraghty, CEO of the UKAA commented: “BTR and co-living offer a tremendous opportunity for the thousands of people looking for a good place to rent, as well as councils wanting to revitalise neighbourhoods while solving the housing crisis in their area.

“Scotland is perfectly placed to look to models of living that are already popular across Europe and harness investment from organisations like pension providers to fund affordable, high-quality homes with a long-term value.

“We are witnessing massive demand for a new form of housing because so many people don’t see the traditional housing market as working for them. But the supply just isn’t there to meet the need. Managing rents can’t solve the fundamental issues in the market so it is time to focus on really delivering a supply of sustainable homes in sustainable locations.

“There is an opportunity for newly elected councillors to take the time to really understand and fully embrace BTR and co-living as having a critical part to play in helping to solve the housing crisis, enhancing quality and choice in the private residential sector.”

Stuart Patrick, Chief Executive of Glasgow Chamber of Commerce commented: “BTR and co-living are delivering high-quality housing, which is desperately needed, and will serve to address increasing demand. Innovative approaches to housing such as this are to be greatly welcomed and will also serve to retain and attract skilled young people to our cities.

“Glasgow City Council’s City Centre Living Strategy, for example, outlines a target to double the city centre’s population to 40,000 over the next 15 years and increasing density in the city centre is essential to its long- term success and sustainability. BTR is a key element in delivering this.”

Gillian McLees, UKAA Scotland Chair, commented: “2022 is set to be a pivotal year in the BTR sector in Scotland with the launch of landmark schemes to the public and long awaited buildings becoming operational.

“The UKAA and the UKAA Scotland Steering Committee are committed to the success of this sector and providing the rented homes that Scotland desperately needs.”

Chesser: Application for new homes and community space submitted

Proposals for new homes for rent alongside facilities for the wider community at New Mart Road, Chesser, have been submitted to City of Edinburgh Council.

Watkin Jones Group, a leading developer and manager of homes for rent, has lodged a planning application with the Council to redevelop the former livestock sheds, which includes the World of Football and World of Bowling buildings.  

The proposed high-quality mixed-use brownfield development will comprise primarily of build-to-rent (BTR) homes, including at least 25 per cent affordable homes, addressing a drastic and increasing shortage of rental housing in the capital.

In addition to this will be a limited level of managed student accommodation (occupying approximately 25 per cent of the floorspace of the development) and community facilities.

The site, which has been operated by Marco’s Leisure for 23 years, currently comprises listed and unlisted former auction mart buildings and livestock sheds which are over 120 years old.

While sensitive to local concerns about the loss of the facilities, independent assessments show that to bring the buildings up to standard would be an unsustainable burden and cost for any organisation. 

The current buildings require constant maintenance, repair and upgrade, and development of the site will ensure their long-term future, with a significant proportion of frames retained and incorporated into the overall development. 

Marco’s Leisure wants to deliver new sustainable, environmentally friendly sporting facilities rather than maintain what is becoming an impossible task. The company, who are a family business with a long-term commitment to Edinburgh, are in discussions with the Council to explore alternative options for sporting facilities in the west of the city.

The proposed BTR apartments will comprise a mix of studios, one bedroom, two bedroom and three-bedroom flats. Community is built into the design of the development, which reflects how people want to live now and into the future with working from home and study space, a communal lounge, exercise facilities, management suite and reception, bike storage and large shared kitchen.

Each of the key outdoor public and residents’ open outdoor spaces will be given an identity as part of the overall masterplan, reflecting the history of the site, including a large central public square.

It is envisaged that the public square will be used by performing arts groups; farmers markets; and as a gathering space for the wider community.

The development is proposed as a car free scheme with parking limited to accessible parking only, and residents will be encouraged to use the good quality public transport and active travel links to their homes.

The student housing portion of the building will also offer communal amenity spaces, bike storage, a management suite and reception areas. 

Eve Ladden Timbers from Watkin Jones commented: “Our planning application for this new development at Chesser will create a thriving and diverse community as part of an overall redevelopment of the area.

“There is a massive shortage of homes for people to rent in the capital and through our build-to-rent, affordable and student homes these proposals will create much-needed places for people to live on a brownfield site.

“We have heard and understand people’s feelings about the football pitches but know that these are unsustainable in their current form due to the condition of the buildings. We will continue to listen to the community throughout development.

“We are aware that discussions are being held to look at alternative options for new sporting facilities.”

Paul Demarco from Marco’s Leisure commented: “Investment in recent state of the art facilities, such as World of Football at Marine Drive, show what we can offer through delivering far more viable spaces without the ongoing cost that old out of date buildings unfortunately provide. 

“As we are finding, it is proving near impossible to provide quality and affordable facilities under a nineteenth century livestock shed. To address this, we are currently in the process of discussing possibilities for the delivery of facilities on future sites in the west of the city with agents and City of Edinburgh Council.

“As a family business we have a long-term commitment to Edinburgh, and as the baton is passed on from the third to fourth generations of the family, who will be active for many years to come, we are dedicated to delivering high quality affordable leisure and sports facilities.”

What is BTR?

BTR is a relatively new model for creating new homes in the UK but it is very popular in Europe and America. All the properties are built for rent, not for sale and are usually owned by a pension provider that wants to maintain a secure income to pay the pensions of its members.

Because the owner is a long-term professional investor there is an emphasis on future-proofed sustainability and maintaining a diverse thriving community that keeps the building and local area attractive as a place to live for decades. 

Residents are offered long-term security of tenure, with the flexibility of renting and have access to wider on-site amenities, such as gyms and workspaces, that offer a better lifestyle the traditional boundaries of rented homes. Pets are often allowed in BTR homes. Recent research by the UKAA found that BTR homes charge similar rents to traditional rented homes.

Major new development planned for Corn Exchange at Chesser

FULL TIME for WORLD of FOOTBALL

Proposals for an exciting new residential development at New Mart Road, Chesser, have been announced today, creating a new urban quarter.

Watkin Jones Group, a leading developer and manager of homes for rent, has revealed proposals to redevelop land to the rear of the Corn Exchange, which includes the World of Football and World of Bowling buildings.   .

The proposed high-quality mixed-use brownfield development will comprise primarily of build-to-rent (BTR) homes, including affordable homes, as well as managed student accommodation, forming a mixed-tenure urban residential village. This forms part of an overall regeneration of the brownfield site following the recent acquisition of the Corn Exchange building concert venue by the Academy Music Group, to be called the O2 Academy Edinburgh.

Completing the work in 2025, should planning permission be given, the regeneration of this brownfield site – formerly comprising a mix of listed and unlisted buildings originally used as an auction mart and livestock sheds – will seek to retain the character and elements of the buildings. This will ensure their long-term viable future, all of which is considered in the creation of community spaces and public realm within the proposed scheme.

The World of Football and World of Bowling have provided a suitable uses and adaptation of the former auction mart buildings and livestock sheds for over 22 years, however their condition currently requires considerable investment on an ongoing basis. 

To bring the buildings up to standard is a continual test, burden and cost for the business. Investment in recent state of the art facilities such as World of Football at Marine Drive show that they can provide far more viable spaces without the ongoing cost and environmental impact that old out of date buildings unfortunately provide.

The BTR apartments will comprise a mix of studios, one bedroom, two bedroom and three-bedroom flats. Within the building it is proposed there are areas of communal amenity such as working from home and study space, a communal lounge, exercise facilities, management suite and reception, bike storage and large shared kitchen.

Student bed spaces are proposed as a mix of studio and cluster rooms each with their own ensuite. This will also have a range of communal amenity spaces, bike storage, management suite and reception areas.

Reflecting the heritage of the site, a significant proportion of the former livestock shed frames will be retained and incorporated into the overall development. There will also be a variety of external high-quality communal spaces. The development is proposed as a car free scheme with parking limited to accessible parking only and maximising the good quality public transport and active travel links to the site.

Each of the key areas of public realm and open space will be given an identity as part of the overall masterplan, reflecting the history of the site, including a large central public square. This will form a connection between the proposed development and the O2 Academy Edinburgh

It is envisaged that the public square will be used by performing arts groups; farmers markets; leisure square gatherings and as an urban gathering space for residents.

The central square is adjacent to a series of smaller walled gardens and routes that link the more private series of residential courtyards. These smaller courtyards are connected by a grouping of pends, footpaths and tree lined boulevards.

The developer has formally submitted a Proposal of Application Notice (PAN) to City of Edinburgh Council, informing it that it intends to submit a planning application for the development following a minimum 12-week consultation period. 

Watkin Jones Group has undertaken major BTR schemes throughout the UK, completing its first purpose-built scheme in Leeds in 2016.

It has extensive experience of working in Edinburgh, investing extensively in the city over the last 10 years. Over the period it has developed a total of ten purpose-built student accommodation schemes, equating to 2,861 student homes.

A notable example is the award-winning Sugarhouse Close development, which was completed in the summer of 2012. The development is accessed from the Royal Mile and located within the World Heritage Site, demonstrating that the Group have first-hand experience delivering a high-quality scheme in a historically sensitive location.

Watkin Jones Group is also currently progressing a mixed tenure residential development at Iona Street in Edinburgh, for which planning permission was granted in March of this year. This development comprises over 200 managed student homes, 60 residential apartments and 20 affordable homes and will be completed in 2023. In addition, the Group is delivering 645 managed student homes on Westfield Road and Gorgie Road which will be completing in 2022.

Iain Smith, Planning Director for Watkin Jones, commented: “We’re thrilled to be announcing our exciting scheme for this new urban quarter at Chesser, creating a thriving and diverse community as part of an overall redevelopment of the area. The site is in a highly sustainable location with excellent access to amenities and transport links and will be built to future-proofed high environmental standards.

“Maintaining the strong heritage of the site is a feature of the development and our intention is to retain the character of the buildings where we can, ensuring their long-term viable future, with the creation of some fantastic public squares, each with their own distinct identity.

“These proposals will greatly assist in the regeneration of this part of the city and we are consulting extensively to ensure that people from across the local area have an opportunity to input their views and shape our ambitious proposals.”

What is BTR?

BTR is a relatively new model for creating new homes in the UK but it is very popular in Europe and America. All the properties are built for rent, not for sale and are usually owned by a pension provider that wants to maintain a secure income to pay the pensions of its members.

Because the owner is a long-term professional investor there is an emphasis on future-proofed sustainability and maintaining a diverse thriving community that keeps the building and local area attractive as a place to live for decades. 

Residents are offered long-term security of tenure, with the flexibility of renting and have access to wider on-site amenities, such as gyms and workspaces, that offer a better lifestyle the traditional boundaries of rented homes. Pets are often allowed in BTR homes. Recent research by the UKAA found that BTR homes charge similar rents to traditional rented homes.