Landlords insurance company Aviva is in talks to create a £1bn portfolio of new build residential rental properties according to reports in the FT.Aviva aims to build new units to rent in blocks of 100 or more units in London in the South East to capitalise on the strong lettings market in this part of the country.
Apparently it has already identified a large site owned by Telford Homes in the east of London as the first phase of this plan. Aviva's plans come despite widespread disappointed in the property sector that the new coalition were not going to bring forward plans to encourage large scale institutional investment in the private residential sector.
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