About Us - The PRS REIT

Overview

The Company is funding the construction of a large portfolio of new homes, with a smaller proportion of homes in the portfolio being acquired as newly-built and fully let from third parties.

The portfolio has a wide variety of homes, built to exacting standards and a range of designs. They cater for people at all stages of life, from young professionals and couples to families and downsizers.

Since our homes have been built to certain designs and specifications, long-term maintenance costs are easier to predict and to manage. We aim to set market-beating standards of care.

The PRS REIT’s sites are distributed across multiple locations in the regions of England, with a focus on the main conurbations and largest employment centres outside London. Development locations are typically selected for their ease of access to local amenities and transport infrastructure, as well as proximity to good quality primary schooling, a key factor for family occupiers.

All the PRS REIT’s homes are let on Assured Shorthold Tenancies (as defined in the Housing Act 1988) to qualifying tenants. All homes are let though Sigma’s consumer facing rental brand, Simple Life.

The PRS REIT’s growing portfolio of homes places it at the forefront of the build-to-rent sector, and the Company remains the only quoted REIT to focus exclusively on the Private Rented Sector in the UK, and the first to focus on family homes.

Strategy

In creating its portfolio of newly-built homes, the PRS REIT is deploying its funding resource in two ways:

By acquiring development sites suitable for multiple new homes. At the time of acquisition, sites are ready for construction with detailed planning permission in place;
By acquiring newly-built homes from third party vendors that fulfil its investment objective. Homes acquired in this way are typically part of a new development and are already let and income-producing. An independent valuation is obtained prior to any site purchase.

The PRS REIT’s Investment Adviser and Development Manager act under contract to source investment opportunities, manage the construction and delivery processes, and manage completed assets thereafter.

Properties are developed on fixed-price design and build contracts, and house types are from house builders’ standard ranges, which makes the costs of maintenance more efficient and predictable. Homes come with the benefit of 10-year National House Building Council or equivalent warranties.

Construction work on any development site is phased which allows for marketing to commence in advance of completion so that as tranches of homes complete, they can be occupied while work continues elsewhere on the site. This means that development sites are capable of becoming income-generating relatively quickly and before they are fully completed.

The PRS REIT’s portfolio is geographically diverse, including sites in the North West, the Midlands, Yorkshire, the North East and South of England.

The Private Rented Sector Marketplace

There is a structural undersupply of new housing in the UK and demand for quality rental homes, especially for families, is high.

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Overview

The Company is funding the construction of a large portfolio of new homes, with a smaller proportion of homes in the portfolio being acquired as newly-built and fully let from third parties.

Current Portfolio

Simple Life Homes

Investor Centre

Strategy

In creating its portfolio of newly-built homes, the PRS REIT is deploying its funding resource in two ways:

The Private Rented Sector Marketplace