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 c. €226.1m regeneration scheme set to revitalise a c. 36.4-ha 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.
Both developments present a mid-market offering, achieving affordable rents, 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 a 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.
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 very strong demand, a testimony to our strategy of delivering new build high-quality rental accommodation in regional markets offering a yield advantage.”
Written by Leon Goldwater for Europe Real Estate.
Image provided by TAVISTOCK.
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