Clarion eyeing sites in London, West Midlands and Greater Manchester
Clarion Housing Group has announced plans to build 3,000 new build to rent homes in the next five years.
The homes will be delivered in growth areas across London, the South East, West Midlands and Greater Manchester and make up a part of Clarion’s plans to develop 50,000 homes over 10 years.
The group has an existing private rented portfolio of just 800 homes and plans to build the 3,000 new properties by 2023. Work on the first new homes on these will start later this year.
The firm said the new build to rent portfolio will be focused on mid-market customers, who live outside of city centres and are seeking homes with medium to long-term tenancies.
Mark Washer, chief financial officer at Clarion, said: “In total, we expect to develop build to rent assets with a gross development value worth around £800m over the next five years.”
The provision of new build to rent homes will form part of Clarion’s £1bn regeneration project in Merton (pictured).
The plans, which were OK’d by Merton’s planning committee earlier this month, will deliver around 2,800 new homes across three neighbourhoods – Eastfields and Ravensbury in Mitcham and High Path in Wimbledon – along with 9,000m² of retail, leisure, office, work and community space.