Housing Growth Partnership and Eutopia Homes announce a new partnership to deliver a Build to Rent Development in Exeter
Housing Growth Partnership (‘HGP’) and Eutopia Homes are proud to announce their partnership to deliver a Build to Rent development in Exeter.
The scheme, ‘Exeter Gateway’, is HGP’s first investment alongside Eutopia and is set to deliver 51 units, including 10 affordable, comprising a mix of 1, 2 and 3 bed units over a maximum of 5 storeys.
The scheme has been designed to deliver for changing customer requirements and includes generous amenity and green spaces, two large communal roof terraces and balconies for some of the larger units. A resident hub is provided at the ground floor, including a home-working hub, communal lounge and reception foyer. The scheme has a green focus and will also provide access to car clubs, electric car charging points, bike charging and extensive cycle storage provision.
The development represents HGP’s first investment in the Build to Rent sector since the launch of the new £300m HGP 2.0 fund in 2021. The HGP 2.0 fund will focus on investment into a wider range of residential development sectors including Build to Rent, Regeneration, Student and Retirement Living. The fund will look to prioritise projects with a greater sustainability focus, as well as those using modern methods of construction and other evolutionary construction methods.
Scott Hammond – CEO of Eutopia Homes commented “HGP’s investment into the emerging BTR sector is great news for the industry. Exeter Gateway offers great rental prospects for professionals who face limited opportunities to rent well designed apartments. As part of the development, we will be offering 20% of the units for key workers at a discounted market rent – the first such offering in the City”
John McKeon, Investment Director of HGP commented: ‘“We are delighted to be supporting our first Build to Rent Scheme alongside Eutopia. Scott and the team at Eutopia have a strong track record of delivery in the BTR sector and the Exeter scheme represents an excellent opportunity for HGP’s entrance into this burgeoning sector of the market. HGP 2.0 provides us with greater flexibility to support a wider range of schemes within the Living sector and we look forward to supporting capable operators across further BTR schemes”.