From Build-to-Rent to Built-to-Rent: from Assumptions to Reality

• Strong interest exists in the fast-growing sector of Build-to-Rent. Many new investors are venturing into this asset class that is virtually untested. Five years ago, when the first few development projects were on the drawing board, many assumptions were made by lenders and investors. There was no evidence, no data. Now the first projects have completed we can test these assumptions. The business case used to be often far removed from the valuation done at the time with strong rental growth and rental premiums built in to the models not being accepted by the valuers. So, what was the outcome? Who was right, if any?

• What do the first results show on rental growth, rental levels achieved, affordability, type of occupier, rental premia. Where have the tenants moved from, what do we know about gross-to-net, what areas have achieved most rental growth? What took us by surprise? What will be the future for BTR? Perhaps it is more 'plain vanilla', less Manchester and more Colchester?

• The seminar takes the format of one presentation, exploring specific sub-market insights by Dataloft using tenant data featuring an ex-development bank lender, fund and asset managers, and a research specialist. The panel discussion will be followed by Q&A, allowing plenty of time of searching questions from the public, allowing what promises to be lively debate.
• This seminar is open to many associations in order to stimulate debate across the industry.

Chair

Alex Moss, Cass Real Estate Research Centre

Moderator

Cleo Folkes, Property Overview

Presenter

Julia Middleton, Dataloft

Panellists

Dr. Robin Goodchild, University of Aberdeen Business School

Jonathan Monnickendam, Development Debt Consultancy

Andrew Moffat, LIS Real Estate Consultancy

Charles Fairhurst, Fairbridge Associates

Tea, coffee, water and biscuits will be available (no breakfast). Places are offered on a first come first serve basis.

This seminar is kindly sponsored by the Cass Real Estate Research Centre, part of Cass Business School, City, University of London.