i2C Architects’ Australian leadership team have visited their UK counterparts on a fact finding mission, assessing the successes of the build-to-rent (BTR) sector in the region as it looks to explode back home.

In the wake of the recent Federal Budget, it is expected that BTR will assist in reaching required housing targets in a time of crisis. i2C Associate Architect and Residential Lead Marcus Greening visited a number of industry experts as well as projects in the likes of London, Brighton, Manchester, Leeds and Glasgow.

Build-to-rent has been a cornerstone of the UK’s housing market for the better part of a decade. Greening says there is much to learn from the experiences of its built environment professionals.

“BTR is responsible for housing an incredibly large number of people in the UK. The most successful schemes we saw were ones that integrated the BTR community with the wider social fabric, which in part is understanding the diverse types of demographics that go into creating a community,” he says.

“These projects actually utilised the wider neighbourhood for their amenities, allowing the community to participate in the overall success of these BTR projects, creating a ‘village like’ feel, that is often lost in traditional multi-res developments.”

Build-to-rent was classed as a big winner within the 2023-24 Budget, with the Managed Investment Trust (MIT) Withholding Tax halved from 30 percent to 15 percent, while other incentives have been made for developers to invest. Greening believes the time to learn is now.

“The success of the BTR model is defined by the overarching objectives of the developer, who will retain ownership of the building for 30 plus years, placing a greater emphasis on longevity - of both common spaces and apartment fixtures and finishes. Essentially the most intuitively designed projects that prioritised resident wellness and lifestyle quality, were the projects that excelled in the UK,” he says.

“This goes hand in hand with more sustainable practices, which in turn can minimise outgoings and running costs. The i2C team believes we have a responsibility to assist developers in meeting ESG targets, with some BTR investors now putting sustainability credentials at the forefront of their decision-making process.”

It is estimated build-to-rent residences will reach 16,000 by 2027.

“As inflation and cost of living continues to chip away at the ability of regular Australians to become home-owners, BTR challenges the traditional notion of buying your own home and setting down roots,” Greening continues. 

“It’s a model which eradicates the expense of home ownership and mortgages, but still offers the ideation of community which resonates so well with Australians.”

Greening’s trip saw him discuss the BTR sector with i2C’s partner firm Ryder Architecture, which now encompasses 12 partner firms and some 1,300 people across 26 cities. i2C and Ryder have worked alongside one another since 2011, sharing ideas, strategies and design approaches.

For more information, visit i2c.com.au.

 

Image: South West Lands by Ryder Architecture.