Wise Living, the SDL Group’s Build to Rent (BTR) division, has secured a further £33 million of funding from real estate investors ICG-Longbow.
The firm already has several BTR schemes across the UK – including in Birkenhead, Telford, Mansfield and Coventry – and hopes to speed up its efforts to partner with developers looking to expand into the BTR sector.
The investment follows research carried out by the National Housing Federation, which revealed around 8.4 million people in the UK live in insecure, unaffordable or unsuitable homes.
By putting the tenant at the heart of everything it does, the team at Wise Living aims to ‘challenge the standards set in the private rental sector’. Each of its homes is professionally managed and schemes are designed to help communities flourish and drive higher living standards.
“This additional funding is a real vote of confidence that helps us move up a gear with our plan to not just build homes, but thriving communities,” says Andy Deller, director at Wise Living.
“It is well documented that there is a housing shortage in the UK, and many properties don’t give families the space and comfort they need. That’s why our aim is to develop communities that tenants love to call home. The new investment means we have extra funds available to work with more developers to de-risk their schemes and deliver the homes that tenants across the UK are crying out for.”
Kevin Crowley from ICG-Longbow adds: “We are delighted to further expand our commitment to the BTR sector and to Wise Living - and are very excited to continue to support the development of good quality and accessibly priced rental homes over the upcoming years.”