Crest Nicolson and M&G Real Estate have teamed up once again to fund the construction of 114 private rental homes in Arborfield Green, a new Berkshire garden village in South East England.
This will be the third PRS partnership between the firms, with the development set to feature a selection of one and two-bedroom apartments, which will be ready for occupation towards the tail end of next year.
Alex Greaves, head of residential investment at M&G Real Estate, commented: “It is a fantastic opportunity to partner with Crest Nicholson for a third time and I firmly believe that as we do our part to put pension fund money to good use within society, that institutional investors will continue to find the case for residential as compelling as we do.”
Stimulating new housing markets such as the private rental sector is the only way that the industry and government will be able to accelerate housing delivery and meet ambitious home building targets, according to Chris Tinker, a board director at Crest Nicholson.
He said: “Purpose-designed PRS schemes are complementary to our open market and affordable housing offers, whilst working in partnership with M&G Real Estate will again help us to broaden our tenure base and create diverse communities.”
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