Dandara delivers first homes for £130m single-family BTR deal

Dandara has delivered the first single-family build-to-rent (BTR) homes due under the £130m forward-funded deal that it signed with Packaged Living and Aviva Investors earlier this year.

Under the deal, Dandara is contracted to build a portfolio of 315 purpose-built, single-family rental homes at developments in Dartford and Strood in Kent, and Braintree in Essex. The developments will also include 70 affordable rent homes as well as extensive public realm and green space.

The first family rental homes to be delivered in the portfolio are at Dandara’s Towerlands development in Braintree. A further 133 rental homes are expected to be delivered on the site which is being marketed under the Spinning Fields name.

All three locations have good commuting links to London and are in areas with a strong rental market.

Designed with families in mind, the development masterplan includes a community hub with local shops and an early years’ nursery. There is also abundant public green space throughout the development as well as along its perimeter.

Speaking about the deal Trevor Dempsey, CEO at Dandara, said: “We’re delighted to have already delivered the first rental homes due under this contract. As well as providing much-needed affordable rental housing, we will be giving families the opportunity to live in high-quality, modern, energy-efficient homes.”

Global property consultancy Knight Frank advised on the deal.

Jack Hutchinson, partner in the Residential Investment team at Knight Frank, said: “This transaction represents one of the largest Single Family Housing forward funding deals to take place in this rapidly developing market, and demonstrates the growing strength and continued investor confidence in the sector. As a leading developer in this space, we are delighted to have acted for Dandara on this landmark deal.”

By Mark Adair – Correspondent, Bdaily

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