Lloyds Living, the private rental and shared-ownership homes provider, has acquired a second major portfolio of single-family housing Build-to-Rent homes from Barratt Redrow.
The acquisition forms part of an ongoing strategic partnership between Lloyds Living and the housebuilder.
The new portfolio comprises 598 two, three and four-bedroom single-family housing homes across 11 areas with high demand for accommodation, including Berkshire, Buckinghamshire, Cheshire, Gloucestershire and Kent.
The locations were earmarked as they meet Lloyds’ criteria for having excellent local employment opportunities and good transport links and schools.
Matthew Burgess, chief investment officer of Lloyds Living, said: “This new deal adds much-needed quality, family homes to the rental market in areas that have great access to jobs, schools and leisure facilities.”
“These are homes people want, where they want to live.”
The newly-acquired homes will be situated at new and existing Lloyds Living sites, with the latter including Hampton Beach in Peterborough, Lancaster Gardens in Eccleshill, Ladden Garden Village in Yate and Chidswell in Yorkshire.
The first homes in Abingdon, Crewe and Finchampstead will be available to rent from July 2025 and the remaining homes will be completed by the end of 2027.
Mike Scott, CFO of Barratt Redrow, said: “Barratt Redrow has ambitious growth plans to build 22,000 homes a year. If we are to build the numbers of homes the country needs, across all tenures, we need to work with industry-leading partners such as Lloyds Living.”
“This latest deal therefore marks the next step in a successful partnership with Lloyds Living, working together to provide more high-quality, energy-efficient homes for rent across the country.”
The strategic partnership was established in 2021, with the firms working together on a site-by-site basis to develop new housing stock for the rental market. One of the key priorities for the partnership is to focus on creating houses that have high environmental standards.
The first major portfolio deal between Lloyds Living and Barratt Redrow was for 604 homes and took place in 2023. With the latest deal, Lloyds Living’s total portfolio now exceeds 6,000 homes, over 2,000 of which are from the strategic partnership with Barratt Redrow.
