Success at landmark build-to-rent development in Chelmsford
After the successful launch of One Canalside, in partnership with Legal & General, Fenn Wright are pleased to announce that phase two of this landmark build-to-rent scheme in Chelmsford city centre has now been let.
Build-to-rent schemes are becoming increasingly popular, with a rise in people looking for professionally managed properties created specifically for the purpose of renting.
More and more people are looking for facilities such as gyms, free Wi-Fi and spaces to socialise and the impetus is on creating welcoming and inviting rental properties. According to research published by Hatch Interiors, almost 70% of tenants want outdoor space and figures outlined that 40% of the 1,000 people surveyed wanted to live in build-to-rent facilities.
Michelle Reedie, Head of Lettings at Fenn Wright commented “One Canalside is in a fantastic location with a whole host of well-designed communal spaces, on-site maintenance and amenities including bicycle rental.
Added to this the pet-friendly and flexible tenancies, alongside many of the properties being furnished, and it is no surprise that we were able to secure tenants for all 189 units and are now re-letting some of these stylish apartments.”
As of the first quarter of last month, the number of BTR properties in the UK (at varying build stages) was approaching quarter of a million. Figures from the British Property Federation (BPF) show that there are now 212,177 homes in this sector with 70,785 completed, 42,119 currently under construction and just shy of 100,000 under consideration with planning.
Predominantly located in commuter areas, the build-to-rent market is undoubtedly thriving with operators really focusing on putting tenants first and creating well-maintained developments where residents can feel safe, secure and happy.