Bristol’s second – and so far largest – build-to-rent (BTR) scheme has been recommended for the go-ahead by planning officer at next week’s city council planning committee.
If approved, the 255-home ND7 regeneration scheme would provide a much-needed boost to Bristol’s rental housing supply and would account for more than 12% of the mayor’s housing targets for 2018.
Developed by pension provider Legal & General, ND7 would sit within the Temple Quarter Enterprise Zone and is part of the company’s efforts to introduce BTR initiatives across the country, with an aim of helping to solve the housing crisis.
Bristol’s first major BTR was announced at the end of last year, with city-based developer Cubex appointing national contractor Willmott Dixon to build 194 homes at its Finzels Reach development.
Legal & General BTR fund manager Dan Batterton said: “Earlier this month, the government’s Housing White Paper recognised the key role that BTR can play in helping to solve the housing crisis.
“The current UK rental market has not provided its residents with acceptable renting standards across the board. More and more people are choosing to rent, and it’s important they get access to high quality, well managed accommodation, specifically designed for the rental market in sustainable locations that they want to live.
“In Bristol, there is a particularly urgent shortage of city centre rental accommodation like this. ND7 is situated in an ideal location, very close to transport links and employers.
The scheme would be the largest city centre BTR development of its kind, and would provide high-quality, modern homes. The scheme will champion the rights of tenants, offering longer term and more flexible tenancies, inflation linked rent increases and no agency fees.
Sustainability is at the heart of the development’s design with energy consumption and CO2 emissions going to be around 35% less than existing housing stock.
Should the plans go ahead, there would be a significant CIL payment, totalling £1.9m, which would go towards local infrastructure projects to support Bristol’s wider regeneration.
ND7 forms part of a £200m investment by Legal & General in Bristol. The firm is also behind the yet to be built 3 Glass Wharf office scheme which will be HMRC’s regional base.
