Cording Real Estate Group has launched a new UK private rented sector (PRS) business with the acquisition of specialist PRS company, CapRes.

highbury

Highbury

CapRes’ founders, Tim Holden and Charlie Miller, will head the new PRS platform. They will be joined at Cording by CapRes’ lettings executive, Katy Jones.

'We believe that the private rented sector provides a compelling investment opportunity and, by bringing Tim, Charlie and Katy on board through the CapRes acquisition, we have created one of the best PRS platforms in the UK,' commented John Partridge, chairman of Cording Real Estate Group.

'Our combined experience and expertise in the PRS sector and the investment management industry will enable us to deliver good risk-adjusted returns for investors across a range of PRS strategies. The team has a track record of meeting investors’ requirements on investment returns and bringing schemes to market on budget and on time,' he added.

The CapRes acquisition sees Cording acquire both existing, fully-let residential buildings as well as sites which will be developed out and managed as PRS accommodation.

Tim Holden and Charlie Miller, who founded CapRes in 2009, have acquired and managed more than £1 bn of newly-developed residential properties between them to date. Key schemes have included Arsenal’s former North Stand at Highbury Stadium, the Oval Printworks in Lambeth, Seward Street in Islington and Bridges Wharf in Battersea.

Holden will oversee the project delivery, property management and lettings team. Before jointly founding CapRes, he was an executive director at two of the largest affordable housing groups, Home Group and Places for People, where he was involved in setting up the group’s PRS companies, later joining Network Housing Group in 2005.

Miller will be responsible for sourcing PRS opportunities and has more than 20 years’ experience acquiring, planning and carrying out residential-led urban regeneration projects in London and across the UK. Through CapRes, he is currently working with Aviva Investors on its urban regeneration schemes.

Jones will be responsible for lettings. She has more than 15 years’ experience in the lettings market and in 2008 established KM Jones, which grew to become a leading independent new homes letting agent in North London. She was responsible for lettings at the Highbury Stadium development.