BTR housing supply grows despite Covid-19.

EG, a source of trusted commercial real estate intelligence, has issued a report on build to rent’s £11bn lockdown boom. Built to rent (BTR) schemes have surged a remarkable 53% surge during lockdown, with plans for 38,533 homes across 98 BTR developments submitted across Great Britain in the 12 months to the end of March.

The largest of those schemes is our Eastgate Quarter project in Basildon. The development will improve the vitality and viability of Basildon town centre, creating a vibrant mixed-use destination where people can live and thrive. The 2,800-home scheme will also go a long way to meeting the government housing targets for the borough.

EG’s reporter, Karl Tomusk, notes: “Scarcity of land in central London, combined with demand for larger, multi-functional developments and the newfound acceptance of home working, has led to more developers considering outer London and its surrounding commuter towns. One of these is InfraRed, which plans a 2,800-home development at Basildon’s Eastgate Shopping Centre, the largest project with BTR homes submitted last year. That redevelopment is indicative of several trends, including the repurposing of old retail assets and the introduction of a mix of tenures, including student housing.”