It’s exciting times ahead for private tenants in the UK as well-known developer, Countryside, has now signed a new framework deal with Goldman Sachs Merchant Banking Division. The new agreement will potentially deliver up to 1,000 homes for private rent over the next three years.
The first deals under the agreement will be a trio of sites in Wolverhampton, West Bromwich and Bicester and will contain 410 Build-To-Rent family homes which will be delivered over the next three years.
Goldman Sachs has been stepping up investment in the UK housing market following recent transactions including modular developer TopHat and iQ Student Accommodation.
Iain McPherson, Group Chief Executive, Countryside, said: “The UK desperately needs more high-quality rented accommodation, and we look forward to delivering more family homes with this new agreement.
“We continue to see strong interest from new and existing partners to deliver PRS homes as part of sustainable mixed-tenure communities across the UK.”
Chris Semones, Managing Director at Goldman Sachs, said: “We look forward to partnering with a firm of Countryside’s calibre and experience in pursuing our aspirations to invest significant capital in high-quality new homes in the UK.”
This is not the first agreement Countryside has signed recently. They recently made an agreement for the acquisition of five sites from Countryside when Sigma Capital and it’s investment Partner, EQT Real Estate, formed a joint venture to deliver 361 Build-To-Rent homes with a total gross development cost of £102m.
Say goodbye to old run-down rentals and hello to gorgeous newly built homes!
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Construction Enquirer – Goldman Sachs build to rent deal with Countryside – 20th October 2020