Sustainable, specialist investment group Gresham House, via its development platform Rise Homes, have teamed up with consultant and operator VervLife to mobilise, launch and manage The Locks, a new market leading Build-to-Rent (BtR) scheme in Wolverhampton.
The Locks comprises 7 storeys, bringing 95 high-quality one- and two-bedroom apartments to the local market. As with most Rise Homes developments, The Locks is supporting the broader regeneration of Wolverhampton’s city centre. The development will provide a sustainable district heating solution to minimise both the carbon footprint and hot water and heating costs for residents. In line with Gresham House’s broader ethos around sustainability, the scheme will benefit from a substantial green wall to sequester carbon.
VervLife have supported Gresham House and Rise Homes on the launch of the building and will manage the lettings and marketing, as well as operating the asset day-to-day.
Katherine Rose, Managing Director at VervLife, said:
“Wolverhampton is an emergent local market for BtR and we’re delighted to be collaborating with the creative, sustainability-minded teams at Gresham House and Rise Homes to successfully launch The Locks. Our conscious, ESG-led approach to operating BtR assets is really resonating with responsible funds, investors and developers as they aim to allocate capital to build and manage portfolios that are better for the planet and enhance the wellbeing of their residents”.
Hannah Howard-Jones, Head of Property at Gresham House, said:
“Our vision at Gresham House is to always add value and create a positive social and environmental impact, while delivering on our commitments to shareholders, investors and customers. Our partnership with VervLife will help us to execute on this at the Locks providing much needed high-quality and affordable homes to rent in a key regional city.”
Nigel Rawlings, CEO of Rise Homes, said:
“As with our completed Build to Rent schemes in Manchester, Stockport, and Coventry, we aim to offer high-quality, spacious accommodation that is fully furnished to an excellent standard, in a secure environment, all at a fair price. Rents at The Locks include water charges and 100 Mbps broadband, and an efficient biomass district heating system reduces heating and hot water costs for residents. We welcome the new relationship with VervLife and their professional team.”
The Locks is set to complete in Q1 2022.