Wise Living Announces £100m Funding Boost

Added by Love Business East Midlands | 13 January 2020

Wise Living, the SDL Group’s build-to-rent (BTR) division, has entered into an agreement with investment manager, Triple Point, which will deliver more than £100m of funding over the next 18 months.

This is in addition to the £33m committed by ICG Longbow in October 2019 - adding a second round of funding to the Group’s BTR strategy. 

With Wise Living in active conversations with multiple developer partners, this additional capital will boost its efforts to build more partnerships, delivering thousands of high-quality BTR homes for families across the UK. 

Wise Living already has several BTR schemes nationwide including sites in Birkenhead, Telford, Mansfield and Coventry. This latest £100 million will accelerate its work with developer partners on a pipeline of schemes across the country. 

Wise Living is challenging the standards set in the private rental sector (PRS) by putting the tenant at the heart of everything it does, making it the provider of choice for tenants, local authorities and developers across the UK. Wise Living’s focus is on delivering two and three bed professionally managed family homes, offering a quality alternative to existing rental stock.

Following the investment, Andy Deller, Director at Wise Living said;

“To add Triple Point as a new funding partner that is willing to invest a further £100 million, so soon after our £33 million boost, is a major vote of confidence in the quality of our work as a partner to both developers and investors. 

“Compared to this time last year, the amount of build-to-rent homes completed, under construction or in planning across the UK has increased by 20%. This additional funding will help us to move up another gear with our plans to not just build homes and communities but provide for the increasing demand for professionally managed PRS homes, particularly for families.”

The investment follows research carried out by AMA Research which found that there’s a rising demand for professionally managed PRS accommodation across the UK. Wise Living is aiming to lead the revolution to improve standards in the PRS sector, and is part of the SDL Group, which was named the fastest-growing business in Nottinghamshire in 2019, as well as Nottingham Post Company of the Year. 

To find out more about Wise Living, please visit https://www.wiselivinghomes.co.uk/

Image: Happy tenants Justin Quine and Michael McCormack being handed the keys to their new home by Wise Living’s Property Inspector, Ellie White

 

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