Edmond de Rothschild REIM completes build-to-rent developments in Warrington and Birmingham for residential platform
Edmond de Rothschild Real Estate Investment Management (REIM) has added 765 units to its UK residential investment platform with phased completions of major build-to-rent developments in Warrington and Birmingham.
In Warrington, opposite Warrington Central railway station, The Steelworks development provides 359 apartments for rent arranged around two large, landscaped courtyards. It features a sky lounge, work-from-home space, private hire kitchen and dining area.
The project forms part of the wider masterplan for the regeneration of the Warrington Central station area, a £190 million regeneration scheme set to revitalise a 90-acre site to the north of the town centre. It is clad in the Warrington Wolves’ primrose yellow, a reference to its location within the Stadium Quarter.
In Birmingham, the first phase of The Bath House, in the cultural Southside District, has been completed providing 406 multi-tenure apartments across four blocks. It features a multi-purpose reception lounge, work-from-home space, gym, golf simulator, stretch yoga studio, gaming room, external courtyard with resident’s hub and a private hire kitchen/dining area.
Both developments present a midmarket offering, achieving rents that are affordable, to be managed and operated by Edmond de Rothschild REIM UK’s in-house private rental sector platform. The assets accord with a strategy to create high-quality rental assets targeting the deepest segment of the occupier market.
The platform delivers positive impact by regenerating or repurposing brownfield urban sites with the provision of new-build housing. All developments are built in compliance with the latest UK sustainable building regulations and standards with efficiencies delivered by the vertically integrated residential platform at Edmond de Rothschild REIM UK.
In the UK Edmond de Rothschild REIM invests in the private rented sector (PRS) with a core conviction and focus on need and affordability. The platform has created a diversified portfolio of purpose-built PRS assets, aiming to deliver sustainable, stable and growing income distributions over the long-term. Alongside its PRS portfolio the platform has grown its presence in the regulated housing market, with investments made in the social and affordable housing sectors.
Dhananjai (“DJ”), CIO (UK) at Edmond de Rothschild REIM, said: “The two assets deliver high quality residential stock in our preferred regeneration areas across the UK at rents that are affordable locally. The Steelworks is viewed as a pillar in the redevelopment of Station Quarter in Warrington, with the Bath House identified as a flagship development critical to regeneration of Southside Quarter in Birmingham. A combination of location and provision of amenities fit for the local market has already resulted in very strong demand, a testimony to our strategy of delivery new build high-quality rental accommodation in regional markets offering a yield advantage”.