Award-winning housebuilder The Hill Group has taken a significant step into the thriving Build-to-Rent (BtR) market by securing its first forward funding deal with Lloyds Living. This landmark partnership marks a major milestone for Hill Group as it ventures further into this expanding sector.
The inaugural project involves the creation of 264 rental apartments in Stevenage, Hertfordshire. It represents a key phase of a larger masterplan, led by Hill, to deliver 576 apartments in Stevenage town centre. Designed to meet modern living demands, the one and two-bedroom apartments will be spread across three state-of-the-art buildings and offer residents exclusive amenities such as an on-site concierge, gym, co-working spaces, and parking facilities.
Lloyds Living, the rental and shared ownership housing division of Lloyds Banking Group, is providing forward funding for the project and will oversee the management and leasing of the properties upon their scheduled completion in 2026.
Expanding Hill Group’s BtR Footprint
Building on its reputation as a trusted partner in the housebuilding industry, Hill is actively exploring BtR opportunities in collaboration with investors and partners. These initiatives include forward funding, forward commit, and joint ventures. The Stevenage development complements Hill’s growing pipeline of large-scale BtR projects, including flagship schemes in Coventry and Wembley.
Andy Hill OBE, founder and Group Chief Executive of The Hill Group, shared his enthusiasm for the venture: “We are thrilled to announce our first Build-to-Rent deal, underscoring our commitment to this dynamic market. By combining our expertise in creating vibrant living spaces with Lloyds Living’s proven track record as a funder and operator, we are confident this Stevenage development will set a benchmark for quality rental homes. With its prime location and excellent amenities, this project is perfectly tailored to meet the needs of the growing number of professionals seeking rental properties in the area.”
Meeting Housing Demand with Lloyds Living
Andy Hutchinson, CEO of Lloyds Living, highlighted the significance of the Build-to-Rent sector: “BtR plays a crucial role in addressing the UK’s housing needs. Partnering with Hill on projects like this enables us to deliver high-quality homes for rent in areas where they are most needed, alongside the facilities that modern renters prioritise.”
Looking Ahead
The Stevenage project exemplifies the potential of Build-to-Rent to transform urban living by providing professionally managed rental properties in vibrant, well-connected locations. With both Hill Group and Lloyds Living focused on quality and community, this partnership is poised to deliver homes that meet the evolving expectations of today’s renters while contributing to the regeneration of Stevenage town centre.
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