A former government advisor who spearheaded the Department for Communities and Local Government’s (DCLG) Private Rented Sector (PRS) Taskforce has joined the residential team at Colliers as Head of Build to Rent (BTR).
Andrew Stanford and his team at DCLG helped to kickstart the BTR sector by stimulating institutional investor interest and the supply of BTR developments through supportive changes in the National Planning Policy Framework. They also leveraged the government’s Build to Rent Fund and PRS Debt Guarantee Scheme.
Tony Horrell, Chief Executive of Colliers said: “Build to Rent is a growth market, last year the UK saw more than £3.5billion of investment into the sector, which has been growing consistently for the last four years. We’ve already got a strong record of working with investors and developers, and look forward to accelerating our clients’ success further by bringing Andrew’s expertise into the business.”
Last year Colliers advised on Pension Insurance Corporation’s £130million forward fund of Muse’s 520-BTR development in Manchester, Menta's sale of their 338-unit development in east Croydon to Mitsubishi Estate London and Gatehouse Bank’s £10.2million forward fund of Vistry Partnership’s 66-BTR homes scheme in the West Midlands.
Andrew White, Head of Residential at Colliers, added: “This sector is the buzz word in the residential market at the moment, and we’re increasingly being asked by developer and investor clients how they can capitalise on this market. Bringing in someone who has been instrumental in kicking off the UK’s £14bn Build to Rent investment market, with a unique insight into government housing and planning policy development will be a win-win for everyone involved.”
Prior to joining Colliers, Stanford was Head of UK Residential Asset Management at LaSalle, where he helped develop their PRS investment portfolio of c. 2,000 homes. He is also chairman of the British Property Federations’ Build to Rent committee. He said: “The UK Build-to-Rent market was rapidly becoming a mainstream property asset class before the pandemic. It’s comparative resilience during it is likely to serve as a significant catalyst to future growth. This should bring considerable opportunity for investors and developers. I’m looking forward to helping them achieve their objectives by advising on market opportunities and how best to deliver successful schemes and outperforming investments. This is an exciting time to be joining the Colliers’ team.”
This year Colliers has also strengthened its National Capital Markets team to bolster capabilities in the residential markets, with the addition of Paddy Allen as Head of Operational Capital Markets. He added: “Andrew is a fantastic addition to our Build to Rent team, allowing us to offer real strength and depth to our developer, investor and operator clients all the way along the value chain. Collectively we’re able to provide the whole suite of detailed operational knowledge and insight, alongside securing capital solutions and partnerships that ensure our clients can achieve their goals.”