Living sector specialist Apache Capital has launched Present Made, a new platform which it describes as the UK's first purpose-built and designed single-family-housing-for-rent platform.
The company, which is a wholly owned subsidiary of Apache Capital, will design, build and operate family homes for rent through a vertically integrated structure.
Present Made plans to deliver over 3,000 smart homes using ‘modern methods of construction’ (MMC) as part of its first phase, with a focus on suburban locations across southern England. Present Made will then own and operate these homes for the long-term.
The first three sites in the company’s £1.6 bn (€1.86 bn) development pipeline are located in the Oxford-Cambridge arc, one of the UK's most productive and innovative regions but with some of the highest housing costs outside of London, according to Apache.
Second rental platform
Present Made is Apache Capital's second UK build-to-rent (BTR) platform after its £2 bn multifamily joint venture with developer-operator Moda Living, which is delivering over 6,000 apartments for rent in the UK's largest cities and is backed by major investors including NFU Mutual and Harrison Street.
Richard Jackson, managing director and co-founder of Apache Capital and CEO at Present Made said: 'Four years in the making, Present Made from the outset has been designed around our future residents' needs and the growing importance of ESG considerations to both our residents and investors alike.
'Despite record numbers of families renting, no purpose-built single-family rental housing exists in the UK. Present Made will cater to this growing but under-served segment of the rental market by providing high quality smart homes designed and built specifically for rent, delivered through precision engineering and operated by our own dedicated in-house team.
'The biophilic designs, amenities and services provided at Present Made communities are all intended to help promote mental and physical health and wellbeing, where living sustainably is second nature.'
Single family housing
Sue-Lin Heng, managing director at Eastdil Secured, said: 'The disruption caused by Covid-19 has encouraged investors to explore new emerging asset classes that are structurally supported and less vulnerable to technologically-driven trends. As such, we are seeing clear and growing investor interest in the UK single family housing market.'
The firm's MMC strategy will include off-site manufacturing, net zero operational carbon targets, and smart home technologies such as sensors that monitor and control energy usage.
Present Made developments more widely will incorporate low carbon technologies such as photovoltaic panels, district heating system, combined heat and power system and mechanical ventilation heat recovery.
Single family rental housing is drawing increasing attention from major investors such as Blackstone in the US and Legal & General in the UK.
Yet whereas other companies are buying existing homes or forward funding housebuilder sites that would have otherwise been for sale, Present Made said it was focusing on developing homes specifically designed and built for rent.
To make them suitable for renters of all ages, Present Made communities will have a soft play area for children as well as onsite dining, working and exercise facilities.
