- Acquisitions in Bracknell and Slough mark the company’s first Build-to-Rent (BTR) investment
- It has launched ProperTies Living, a vertically integrated investment and property management platform to manage its residential for rental assets
Royal London Asset Management Property has acquired 500 apartments in Bracknell and Slough, marking its first investment into the UK BTR sector. Both assets will be managed by the business’ newly launched residential property management platform, ProperTies Living, as the investor looks to ensure a high quality of space and living for its occupiers.
As a vertically integrated structure, 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 the operational assets. This in turn will allow the investor to stay attuned to the occupier’s experience and satisfaction.
Royal London Asset Management Property is targeting a portfolio of 8,000 BTR units focussing on provision of quality and affordable private rented homes in markets where there is need, prioritising suburban and commuter markets in the UK’s largest cities, mid-sized regional cities and district centres. Whilst initial investments have focussed on apartment blocks, the strategy will also seek to deploy into family housing. The acquisitions in Thames Valley, consisting of a 349-apartment site in Bracknell and a 151-apartment building in Slough, demonstrate the investor’s approach.
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 a forward-funded development 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 benefit from 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.
Mark Evans, Head of Property at Royal London Asset Management Property said:
“At Royal London Asset Management Property, 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.”
Tim Holden, Director at ProperTies Living said:
“We launched ProperTies to provide a solid, secure and comfortable living space for a wide variety of people from young professionals to families across the country. With this vehicle, we can use our combined experience in the Build-to-Rent space to deliver developments that have the lifestyles of our tenants in mind. We look forward to working closely with our investment colleagues to advise on opportunities, engage with our residents and deliver the best possible service and amenities at future schemes.”
-ENDS-
Notes to editors:
About Royal London Asset Management Property
Royal London Asset Management Property is a key player in the UK commercial property market, operating across six key sectors: offices, retail, industrial and logistics, residential, healthcare and alternatives.
The team is part of Royal London Asset Management, one of the UK’s leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
The views expressed are those of the author at the date of publication unless otherwise indicated, which are subject to change, and is not investment advice.