Developer Eden Living, backed by European special situations manager Warwick Capital Partners, has launched as a Private Rented Sector business.
The business will focus on the acquisition and subsequent letting of newly-built housing in South Wales and Southwest England, offering two-to-four-bedroom single-family homes in suburban areas.
Developments will be located close in proximity to schools, amenities, services, and transport links, with the broader aim of creating local communities.
Eden Living has partnered with Edenstone Homes, a leading regional homebuilder, to acquire 400 single-family homes for which Edenstone will provide a ‘ready to move in’ fit and finish.
Management of the homes will be handled by URPAD, the UK based estate and letting agent with over 30 years of experience in the property market in South Wales and Southwest England region.
Eden Living has secured equity funding from Warwick Capital Partners, as part of its European Opportunities Fund III, and senior financing from Lloyds Banking Group which will help fund the initial acquisition of properties into the company.
Adrian Bird, managing director at Eden Living, comments: “These are exciting times for all those looking for a new, high-quality home to rent in this area, given our focus on ensuring our homes offer a wide range of benefits to young professionals, families and down-sizers alike.”
“Working with Warwick and Lloyds will allow us to better deliver much needed new homes for rent, whilst our partnership with Edenstone re-affirms the commitment to offer a great product across a number of developments in superb locations.”
Shanil Shah, partner at Warwick Capital Partners, adds: “This investment in Eden Living represents our first venture into the Private Rented Sector space. There is increasing demand for new, purpose-built, high-quality housing nationally, and we’re excited to be partnering with Edenstone and Lloyds to bring these homes to families across South Wales and Southwest England.”
Shon Pallickaleth, director at Lloyds, says: “We are thrilled to be part of this partnership, alongside Warwick, to support Eden Living as it begins its growth journey. With 400 homes already in the pipeline, we look forward to seeing and supporting what more is to come for this business.”