Martin Skinner

Inspired Asset Management steps up search for BTR funding partner

Inspired Asset Management has appointed Lacey Capital Partners to source a build-to-rent (BTR) funding partner.

Lacey Capital Partners has been tasked with securing funding for an initial six assets comprising 835 units with a combined GDV of around £175m.

The assets are either already under construction or will be by Q4 2018.

They include a mixture of co-living studios, micro apartments and standard-sized PRS apartments located in the South East, Midlands and North West. 

Inspired also has a potential pipeline of around 1,000 units, which it plans to add to the portfolio over the next few years. 

The company’s BTR strategy is to reposition existing income producing and vacant buildings – such as older student blocks, hostels and offices – and introduce new development as the portfolio becomes more established. 

Inspired will also continue to focus on micro-living schemes, including compact living, shared living and co-living.

“We have proven that micro-living schemes can deliver the higher yields demanded by institutional investors, while providing high-quality rental accommodation that is affordable,” said Martin Skinner, founder and chief executive at Inspired (pictured above). 

“Investment activity in student accommodation has increased significantly over the last 10 years, but the market has reached saturation in many locations. 

“There remains huge demand from non-students for professionally managed accommodation with shared social spaces and all-inclusive lifestyle services, which is why we have an ambitious plan to create a £2bn portfolio and the world’s first co-living REIT.”

Chris Lacey, managing director at Lacey Capital Partners, added: “The business plan leverages the team’s expertise in PRS and repositioning existing buildings to maximise value. 

“Compared to many other BTR strategies, Inspired’s model can be scaled relatively quickly, there are lower delivery risks and [it has] ready-made assets with a decent geographical spread. 

“It’s an exciting proposition for investors.” 

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