Build to Rent
Leading the UK’s BTR market with purpose‑built, high‑quality rental homes and a proven investment track record since 2016 ¹
Why Build-to-Rent and what’s our approach?
Build-to-Rent (BTR) is central to meeting the UK’s growing need for high-quality, professionally managed homes. With demand for rental housing continuing to rise, BTR aims to provide a long-term, scalable solution that supports both housing supply and economic growth.
For investors, BTR seeks to deliver stable, consistent income supported by structural demand. For society, it delivers well-designed homes in the right locations. This combination of social impact and long‑term value is why BTR has become a cornerstone of our real estate strategy.
L&G has been a leading long‑term investor in BTR for more than a decade¹. We have committed over £3 billion to deliver more than 10,000 homes across the UK². Our approach is clear: create well‑designed, well‑managed rental communities that provide long‑term value for our investors and positive impact for the communities we serve.
What are L&G’s investment strategies for BTR?
In June 2017, we established our BTR platform as a joint venture with PGGM. Since then, we have delivered over 6,700 homes, with a further 3,500+ under construction. In total, the portfolio has more than £3 billion AUM across 26 schemes across the UK².
The Fund seeks to address the severe housing shortage in the UK by developing high-quality, purpose-built rental homes, while simultaneously generating stable, long-term financial returns for institutional investors.
Case studies
New Acres, Wandsworth
L&G’s largest BTR scheme delivers 1,034 high‑quality homes supported by a full suite of resident amenities. With 35% affordable housing, the development was already 75% let at completion, reflecting strong demand. The scheme also includes 50,000 sq ft of street‑level commercial space, creating an active, mixed‑use neighbourhood that supports both residents and the wider community.³
Blackhorse Mills, Walthamstow
The scheme delivers 479 high‑quality BTR homes overlooking the Walthamstow Wetlands, making it one of the UK’s largest and most pioneering developments. Designed around extensive communal amenities, it includes a variety of leisure facilities, with a focus on resident wellbeing, including a heated outdoor pool, large gym, co‑working space, private dining rooms, outdoor BBQ areas and children’s play facilities. The scheme also provides 20,000 sq ft of commercial space to support small and medium‑sized start‑ups. ²
Boxmakers Yard, Bristol
Located 300 metres from Temple Meads station, the scheme sits at the heart of the Temple Quarter Enterprise Zone, one of the UK’s largest regeneration projects. Originally consented for 246 homes, we worked with Bristol City Council to redesign and increase density to 376 high‑quality apartments.² The development went on to win Best Build to Rent Project in the UK at the 2021 WhatHouse? Awards.⁴
Tower Works & Mustard Wharf, Leeds
Located in Granary Wharf, an established retail, leisure and residential, waterfront location. The scheme forms part of the wider regeneration area of South Bank area, a location due to provide 35,000 jobs.
The combined developments provide 492-apartments, approximately 350 metres, or a close to 5-minute walk, from Leeds Train Station, which provides services to other key UK cities such as London and Edinburgh as well as being a major hub for local and regional destinations such as York and Sheffield.² Combined with our most recent development in the city, TURA, located in the heart of the Central Business District, this brings L&G’s total BTR holdings to just under 1,000 homes.
Rondo, Stratford
The scheme comprises 247 BTR apartments, forming part of a wider development of 380 homes, including 79 affordable units. Both the private and affordable apartments are owned and operated by L&G, demonstrating our ability to operate across large-scale, multi-tenure assets. In addition to a variety of amenity spaces, the scheme includes c.18,000 sq ft of commercial space.⁵
Case studies shown for illustrative purposes only. The above information does not constitute a recommendation to buy or sell any security. Awards should not be considered a recommendation. Past performance is not a guide to the future.
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Meet the team
Dan Batterton
Head of Housing
Adam Burney
Head of BTR & PBSA
Get in touch
Get in touch
If you would like any further information please complete the contact us form.
Sources
1.Savills, 2024
2.L&G as of March 2025
3.Based on portfolio holdings as at 30 June 2025.
4.WhatHouse? Awards 2021, Best New Homes in Britain
5.L&G as of January 2026
Key risks
The value of any investment and any income taken from it is not guaranteed and can go down as well as up, and investors may get back less than the amount originally invested. The risks associated with each fund or investment strategy should be read and understood before making any investment decisions. Further information on the risks of investing is available from L&G's Fund Centres.
While L&G has integrated Environmental, Social, and Governance (ESG) considerations into its investment decision-making and stewardship practices, this does not guarantee the achievement of responsible investing goals within funds that do not include specific ESG goals within their objectives.