Nottingham build-to-rent specialist Wise Living is planning almost 90 new rental properties across two developments in Mansfield – on top of an existing site of 75 units.
Work is already underway at the new Bath Lane development, the second of a number of projects Wise Living is working on in partnership with Doncaster-based Strata.
Work on that phase, offering 36 one and two-bedroom homes, is expected to be finished this autumn.
The second development, said to be worth around £7.3 million, will be built across the road from an existing scheme The Old Brewery in Great Central Road.
The site will have 51 new homes, including 27 one and two-bedroom apartments and 24 two and three bed houses.
It is being built in partnership with Keon Homes, the third development the two companies have collaborated on following sites in Coventry and Wolverhampton.
The Great Central Road and Bath Lane sites will take Wise Living’s total properties in Mansfield to 162, following on from The Old Brewery last year. Both are funded by PGIM Real Estate.
Mark Gratton, land and partnerships director, said: “Regardless of the impact of the pandemic, we have continued to see high demand within the build-to-rent market during the last 18 months.
“The East Midlands is a key region in our strategy, and we know renters in Mansfield want quality family homes with easy access to key amenities – you only have to look at the success of The Old Brewery in 2021 to see how high demand is.
“This announcement marks our growing portfolio in Mansfield and alongside our key partners, Strata Homes and Keon Homes, we have plans in place to continue to provide high-quality rental properties in areas of cities and towns where there is high demand, but a clear under supply to meet it.
“Our own research in 2021, showed that almost half of UK renters want to live in areas that have easier access to green spaces – so we know it’s locations like here in Mansfield where people want to live.
“Working with like-minded housing developers is a core part of our model and we are delighted to be delivering these two much needed sites to Mansfield alongside Strata and Keon.”
The announcement continues a string of BTR developments that Wise Living has delivered to suburban areas of smaller cities and large towns during the last few years – including Wolverhampton, Coventry, Boston, Rotherham and Birkenhead.
