Hill’s inaugural build-to-rent (BTR) project, in partnership with Lloyds Living, is for 264 rental apartments across three buildings in Stevenage. It forms one phase of a masterplan comprising 576 apartments led by Hill in the town centre.
The project is being forward-funded by Lloyds Living, the rental and shared ownership home provider arm of Lloyds Banking Group, that will also oversee the management and leasing of their properties upon completion. The buildings are scheduled for delivery in 2026.
Hill is now exploring further BTR opportunities with potential investors and partners on forward funding, forward commit and joint venture bases. Hill’s existing BTR pipeline includes projects in Coventry and Wembley.
Andy Hill, founder and chief executive, said: “We are pleased to confirm the completion of our first build-to-rent deal demonstrating our commitment to this expanding market. Combining our experience in delivering thriving places to live with the strong track record that Lloyds Living has as a funder and operator in the rental sector, we are delighted to move ahead with this exciting development in Stevenage. These high-quality apartments are in a prime location with excellent amenities for residents, making the development an attractive option for the growing number of professionals seeking rental homes in the area.”
Lloyds Living chief executive Andy Hutchinson said: “Build to Rent is a growing sector and an important part of meeting the country’s housing needs. By investing in schemes like this with Hill, we are increasing the supply of quality homes for rent in areas where they are needed with the facilities people want.”
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