Grainger has secured planning consent for a build-to-rent scheme at Berewood, totalling 104 units. This demonstrates that purpose built private rental accommodation is not exclusive to city centres but can be delivered in more suburban environments. The scheme forms part of Grainger’s larger strategic land development project at Berewood, which will eventually deliver a total of 2,550 dwellings.
By delivering some phases of housing for the private rental market rather than the typical ‘for sale’ model, Grainger will be able to accelerate the delivery of new homes, bringing more residents to live in the area sooner and stimulating the early delivery of schools and other community facilities. The development of homes for the private rented sector (‘PRS’) is in addition to Grainger delivering the affordable housing requirements at each site, representing 40% of total housing at Berewood.
The newly consented build-to-rent phase at Berewood consists of 104 new homes. Originally, the phase was intended to be brought forward in Year 12 of the development, delivering a combination of private homes for sale and 40% affordable housing. However, between 2001 and 2011, Winchester council saw a 50% increase in the number of households in the private rented sector. Neighbouring council, Havant – which Berewood borders – saw a 100% increase in households in the PRS over the same period. Grainger identified this change in local housing tenures and saw an opportunity to bring forward the delivery. of rental homes for the local area to satisfy this growing demand.
The build-to-rent phase is earmarked for use in the PRS at market rents for the first 12 years (with the local authority applying a covenant on the land), after which 42 of the homes (representing 40% of the phase) will become affordable housing, in line with the council’s target and the outline planning consent, and be managed by Grainger’s social housing subsidiary, Grainger Trust.
Nick Jopling, executive director of property at Grainger, said:
“The new build-to-rent development will not only deliver much needed new homes in the local area but also support our desire to provide purpose built, quality private rental accommodation as well as accelerate the provision of amenities for the community as a whole.
“This news supports Grainger’s strategy to grow its market rented business and our increasing focus on investment outside of London, where we have extensive experience managing residential portfolios. Grainger is committed to the market rented sector where we can bring our long and established track record of managing homes to the highest standards for people across the UK for the benefit of all our stakeholders.â€