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Tuesday, September 01, 2015

The yanks are coming to UK's PRS

As the tide turns against the small independent landlord ( changes to tax relief, ever increasing regulation, licensing, ending of council tax relief on empty property ...the list goes on), the big boys are moving in to take a slice out of the UK private sector pie.

Now the yanks are coming. Atlas Residential, a US Build To Rent giant has bought a 145,500 sqft site in Southampton. Their plan is to build, then manage, 211 private rental flats on the site.

An Atlas spokesman commented“Our view of property management is highly amenity- and customer service-centric and we look forward to delivering that philosophy to the UK renter, whom we believe will react very positively to it. We look forward to expanding our UK footprint with Rockspring and capitalising on this emerging, yet rapidly growing, asset class” 

Atlas's partner in the venture, Rockspring, has gross assets of €7.9 billion.

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