High end agency Savills and a London developer have launched apartments in a new Build To Rent scheme costing tenants up to £500,000 a year to rent - and they say the target audience is the young renter.
The flats, from developer Avanton, are branded as A:Living and are found in a scheme called Coda in Battersea.
Some 20 two-bedroom flats are pepper potted in a 23-storey tower with prices starting from £650 a week and rising to £1,000 per week. During 2021 Avanton sold £50m of homes in the same block.
Omer Weinberger, Avanton chief executive, says: “The Build To Rent sector is rapidly growing across the capital and last year we committed to a three year expansion into this sector, seeking land and strategic opportunities to deliver high-quality purpose-built stock to meet the market demand.
“The launch of A:Living is an exciting step, with our pipeline developments set to further deliver a diverse portfolio of BTR units for young Londoners to choose from.”
Avanton collaborated with three interior designers with all flats available fully furnished. Residents’ amenities include a private residents’ club lounge, dedicated concierge, fitness studio and access to landscaped gardens.
Avanton has what it calls a “£500 million fund for strategic land acquisitions” for its Build To Rent schemes.
David Ronson, the developer’s sales and marketing director, says: “Since its initial launch off-plan we have seen significant demand for the quality on offer at Coda, and the launch of our first BTR units now offer a new type of tenure option for Londoners.
“Build To Rent homes provide a solution to help with the capital’s housing shortage, and these multiple tenure schemes offer tenants a sought-after lifestyle at competitive prices.”
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The BTR market is very different to that of the PRS , good luck to them with their high rise shoe box flats and gyms.
No outside space and one piddling balcony with a boring view , no thx
Have they got too many noughts on there or dreaming. I know the big boys are always more expensive to rent from, not necessarily Built 2 Rent but converted Office Blocks to Residential charging £300 / £400 pm more than traditional LL’s, poor quality housing still have the big glass windows when you pass by you can see them in bed, (beds in windows).
Unfortunately the tax payer will end up picking up the bill.
£650 per week for a brand new waterfront property in Battersea IS competetive.
What is it? A Hutch?
AQ, come on now tell us what’s on offer you didn’t say. So you want us to think £2’816.00 per month is competitive without telling us what it is or something to compare against, you can’t expect to get away with that.
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