Taylor Wimpey, advised by global real estate advisor Colliers International, has funded a 104-home build-to-rent (BTR) development in Chelmsford city centre, partnering with long term investor LGIM Real Assets.
The site is located within Taylor Wimpey’s eight-acre Chelmer Waterside scheme, a mixed-use development comprising 421 homes with landscaping and retail space.
Taylor Wimpey will develop the BTR homes in conjunction with Legal & General, which will include studio, one, two, and three-bedroom apartments in two adjoining freehold blocks.
, Director and Head of Build to Rent at Colliers International, said: “We were able to act quickly on behalf of our client Taylor Wimpey to identify a funding partner in a short space of time. As Chelmsford’s first private BTR scheme, Chelmer Waterside is being developed on an impressive scale to a high standard. It will no doubt prove to be a reliable source of income, once completed and stabilised, for LGIM’s wider investment portfolio.”