Partnership to develop almost 200 Telford homes

A partnership between a global asset management business and UK build-to-rent developer has completed a deal to acquire and develop almost 200 homes in Telford.It is the first investment made since Aviva Investors and Packaged Living announced their partnership in November 2021, which will create a single-family rental platform of suburban properties across the UK.The 195 units forward purchased by the partnership consist of 148 semi-detached, nine terraced and 38 detached homes. The properties form part of the wider Charlton School development in Telford, set on the former site of a secondary school and owned by established housebuilder Vistry Partnerships.James Stevens, head of real estate investment at Aviva Investors, said: “As one of the UK’s largest investors in real estate, property and infrastructure, it is hugely important that – consistent with our values – we make a material contribution to the transition towards a low-carbon future, using our size and influence to create meaningful change.”With the built environment accounting for a large proportion of total emissions in the UK, our project in Telford is an exciting opportunity to create a community with high social value, which also leads the way in demonstrating how the UK’s residential market can be more sustainable and environmentally conscious.”Jonathon Ivory, managing director of Packaged Living, added: “We believe single family rental is the next chapter in the evolution of the BtR story and we are really excited to be working with our partners Aviva Investors to prove this concept.”Our first project will not only provide much-needed housing to the local area, it will also demonstrate our commitment to deliver properties that are fit for the future, combining high-quality finishes with high energy efficiency, low carbon solutions and importantly lower costs for the families that will live there.”