Royal London Asset Management Property has acquired 500 flats in Bracknell and Slough, marking its first investment into the Build To Rent sector.
They will be managed by the business’ newly launched residential property management platform, ProperTies Living.
The creation of ProperTies Living will enable Royal London Asset Management Property – part of the UK’s largest mutual life, pensions and investment company, – to maintain control of all aspects of the operation.
Royal London Asset Management Property is targeting a portfolio of 8,000 BTR units, prioritising suburban and commuter markets in what it calls “the UK’s largest cities, mid-sized regional cities and district centres.”
Whilst initial investments have focussed on blocks of flats, the strategy will also seek to deploy into family housing. The firs acquisitions are of a 349-flat site in Bracknell and a 151-flat building in Slough.
Aspire, a nine-storey apartment block on Herschel Street, Slough, was completed in spring 2024. Close to the high street and railway station, it features EPC ratings of B and above, with sustainable design elements including electric heating, air source heat pump hot water, LED lighting, and EV charging points.
Located close to the centre of Bracknell, The Beeches is scheduled for completion in the second quarter of 2027. The property will consist of 349 units across seven blocks, ranging from four to 16 storeys. Residents will pay for a 24/7 concierge, gym, amenity spaces, work-from-home areas, and a lounge, all set within a landscaped estate. To enhance construction efficiency, an offsite-manufactured panel wall system will be used. The development is targeting EPC ratings of A and B, along with BREEAM Excellent certification.
A spokesperson for Royal London Asset Management Property says: “We aim to generate long-term income for our pension customers by investing in future-proof, resilient assets across sectors. As the Build-to-Rent market strengthens and demand for high-quality homes in UK cities grows, now is the right time for us to enter the sector.
“The launch of our vertically integrated residential management business, ProperTies Living, is crucial to our movement into the residential sector. In keeping with our commitment to being a responsible investor, it will allow us to be closer to our occupiers, understanding their needs and ensuring that our product provides a high standard of living for generations to come.”
