Ir­ish de­vel­oper en­ter­ing build-to-rent sector

Belfast Telegraph - Business Telegraph - - News - BY RON­ALD QUIN­LAN

DE­VEL­OPER Sean Mul­ryan’s Bal­ly­more has sig­nalled its in­ten­tion to en­ter the rapidly-ex­pand­ing build-to-rent (BTR) sector in London.

The Roscom­mon-born de­vel­oper and his Singapore-head­quar­tered de­vel­op­ment part­ners, Ox­ley Hold­ings, are seek­ing £150m in fund­ing from an inves- tor to fund the de­liv­ery of 272 new rental homes at Deanston Wharf in the city’s dock­lands.

“There is a lack of high-qual­ity op­tions for the thou­sands of peo­ple in London that wish to have the flex­i­bil­ity of rent­ing,” said Bal­ly­more’s UK man­ag­ing di­rec­tor, John Mul­ryan.

“By en­ter­ing the build-to-rent mar­ket with Deanston Wharf — the first of many build-to-rent properties we are plan­ning — we will pro­vide the same high-qual­ity homes that Bal­ly­more is renowned for in this grow­ing mar­ket.”

Bal­ly­more’s move into the UK’S BTR sector is hardly sur­pris­ing when one con­sid­ers the sheer weight of cap­i­tal tar­get­ing the mar­ket. A re­cent re­port by CBRE es­ti­mated that in­ter­na­tional in­vestors in­tend to de­ploy in the re­gion of €30bn across London and other ma­jor UK cities.

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