David Roberts, partner at Mills & Reeve, outlines the current market, opportunities and challenges of PRS / Build to Rent

1. Build to Rent
Developing Trends
16 June 2016
David Roberts

2. Introduction
Here to there
o Berkeley and M&G Funds 2013
o PRS Moving to Build to Rent Model
o Why Manchester
– Demographics
– Planning Policy Forward Thinking
– Example of schemes

3. Build to Rent Map of UK
London
Manchester

4. Angel Gardens
Salboy
Limited
Muse
Manchester Life:
Ancoats scheme
Manchester schemes

5. Development Trends
o Private sale v Build to Rent
– Viability – Fragile does it work?
o Design of a Build to Rent Scheme
o Know the customer
– A new generation/Millennials
o Effective Management
– Professionalise the Build to Rent sector

6. Viability
o Community infrastructure levy
o Negotiate with the Land Planning Authority
o A different planning use
o Use of clawback covenants by the local Planning
Authority

7. Design Construction Issues
o Off site Modular Construction Method
o Re-distribution of space – more community space
o Use of excess space
o Facilities on offer

8. Layout of Build to Rent
Residents shared
area
Front of house
Back office support
Residents private
area
Build to
Rent

9. Know the customer
o What does the customer want
o Location
o Affordability/predictability
o Service
o Design

10. Effective Management
o Management is Built to Rent
– Proper marketing of the scheme
– Plan for risk absorption rate
– Approach on services
– Facilities on offer

11. Conclusion
o Is Built to Rent a fully developed Asset Class?

12. T +(0)344 880 2666 www.mills-reeve.com
Offices: o Birmingham o Cambridge o Leeds o London o Manchester o Norwich
Mills & Reeve LLP is a limited liability partnership authorised and regulated by the Solicitors Regulation Authority and registered in
England and Wales with registered number OC326165. Its registered office is at Mills & Reeve LLP, Monument Place, 24
Monument Street, London, EC35 8AJ, which is the London office of Mills & Reeve LLP. A list of members may be inspected at any
of the LLP’s offices. The term “partner” is used to refer to a member of Mills & Reeve LLP.
The contents of this document are copyright © Mills & Reeve LLP. All rights reserved. This document contains general advice and
comments only and therefore specific legal advice should be taken before reliance is placed upon it in any particular circumstances.
Where hyperlinks are provided to third party websites, Mills & Reeve LLP is not responsible for the content of such sites.