BTR boom - mixed-use developer adds to portfolio with prime Luton site

A mixed-use developer has acquired a 'significant' 1.05-acre site on Latimer Road, in Luton, with planning consent in place to develop a high-quality Build to Rent scheme made up of 238 apartments, as well as commercial space and undercroft car parking.

The town centre project builds on Comer Homes' growing BTR portfolio, which includes other schemes in Bracknell, Woolwich and Kenley.

The Latimer Road development is set to include three four-nine storey buildings offering a collection of studio, one and two-bedroom market rental apartments, with the provision for 43 car parking spaces and 56 cycle spaces. The first phase is set to launch in 2023 and will include around 118 apartments.

Luton is in the midst of a substantial regeneration, with key projects and development sites contributing to a £4.5 billion investment target for the town.

As well as the extension of London Luton Airport, other key projects include the completion of a high-speed transit system linking the airport with Luton Airport Parkway station, the construction of a one million sq ft shopping centre and multiple high-quality mixed-use developments to provide much-needed accommodation and employment opportunities.

We recently wrote about how Luton could benefit more than most from government levelling up funding and ran this guest piece on why the airport town is really starting to take off. 

Brian Comer, co-founder of Comer Homes, said upon securing the fully consented scheme: “This is an excellent acquisition, which will allow us to increase our fast-growing BTR offering. Luton is in the midst of an ambitious multi-million-pound regeneration programme and this development will support the extensive uplift of the town. Now that we have secured the site, we will look to begin the construction process with the objective to bring the first phase to market before the end of the year.”

This is the latest scheme from Comer Homes as it looks to increase its influence in the ever-expanding BTR sector. The company recently launched 338 apartments at Royal Winchester House, in Bracknell, a striking new build development offering a mixture of one and two-bedroom homes available from £1,000pcm.

The homes at Royal Winchester House include contemporary kitchens, spacious balconies and terraces, and exclusive facilities for residents include a state-of-the-art health centre and gym, secure car parking, cycle storage, a hotel-style lobby with coffee bar and a 24-hour concierge.

Meanwhile, set to launch next month (March 2022) is phase three at Mast Quay, in Woolwich, which will see 204 one, two and three-bedroom apartments delivered across three new waterfront buildings, namely Sky Sail, Moon Sail and Royal Sail. These will include private car parking, a car club scheme and electric charge points.

What's more, residents can benefit from a 24-hour concierge, private gym and café/ wine bar whilst the majority of homes provide 'spectacular' river views. Mast Quay is only a short walk from Woolwich Crossrail Station, whilst Woolwich Arsenal station offers direct access to DLR, Thameslink and southeastern rail services.

Elsewhere, the first phase release at Whyteleafe House is also scheduled for 2022. A contemporary collection of 167 one, two and three-bedroom homes, residents will also benefit from a 'wealth of amenities' which include private gym, hotel style lobby and 24 hour concierge whilst enjoying 'excellent transport links' into central London.

The final piece in Comer’s BTR jigsaw is Tower Point, a striking modern building, which has just released 66 new one, two and three-bedroom apartments, all with outside space in the form of balconies and terraces, as part of its second phase.

Tower Point also provides a 24-hour concierge service, private underground parking and a Nuffield Health Fitness & Wellbeing Centre complete with a 20-metre swimming pool and spa facilities.