UK homebuilder Berkeley Group plans to create a build-to-rent housing platform with 4,000 homes over 10 years to cope with high interest rates.
UK homebuilder Berkeley Group plans to create a build-to-rent housing platform to cope with high interest rates. The company aims to develop 4,000 homes over the next decade on 17 sites, a 10% increase in housing delivery. Funding will come from internal funds, debt secured against rental properties, and third-party capital. High interest rates led to a 33% drop in Berkeley's net reservations compared to the previous year, prompting the introduction of the new platform that may attract wealthy investors.
June 19, 2024
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