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Investor interest in U.K.’s rental housing is surging as a lack of new homes and soaring house prices keep families and younger people renting for longer. The professionally-managed rental sector emerged as a rare real-estate bright spot during the pandemic as enforced lockdowns punished retail values and emptied offices around the world.
Australian bank Macquarie Group Ltd. announced in June the creation of a new business that plans to invest over $1.4bn in the U.K. multi-family housing sector. Lloyds Banking Group Plc, the country’s largest mortgage lender, aims to become a major player in the sector by targeting the purchase of 50,000 homes over the next decade, the Financial Times reported.
Thames Valley Housing — which merged with Metropolitan in 2018 — previously entered talks to sell its Fizzy management company and its minority stake in the company’s apartment portfolio to British Land Co., property news service EG reported at the time. That deal subsequently collapsed the following year.
Source: Bloomberg Quint
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