Living Sector

The living sector is setting standards for rental accommodation by providing high-quality homes for individuals, couples and families that meet the requirements of modern day living.

The living sector encompasses institutional-grade rental residential assets, which typically provide a stable long-term income for owners and investors. At the same time, living sector tenants enjoy high-quality, purpose-built residences with professional management, thoughtful amenities, community spaces and a strong sense of community.

Technology is playing a key role in providing superior management of facilities and better energy usage. It’s not sufficient to appreciate the requirements of developers, investors, funders and operators. We also understand the wants and needs of tenants and local communities in a sector enjoying substantial growth and segmentation as it matures. This includes the importance of environmental credentials in construction and operation, and of creating powerful social value propositions for incumbent residents, businesses and tenants in the neighbourhood.

Whether you are a living sector developer, owner, investor, a funder, buying or disposing of real estate assets, we take a hands-on approach to get your deal done. 

We work on some of the largest regeneration schemes in the country and are actively involved in thought leadership initiatives in this rapidly developing market.

We provide a full-service offering for the living sector, with experienced legal experts from across our firm to provide you with experts in planning, strategic land, development, construction, building safety, ESG (environmental, social and governance), real estate disputes, investment, financing, tax, corporate, intellectual property and branding workstreams on associated projects and transactions.

The main living sector specialisms include:

Build to Rent

Built to Rent (BTR, also known as the “Private Rented Sector”) has come a long way since the release of Sir Adrian Montague’s 2012 review into improving institutional investment in private rented homes.

The main types of Build to Rent scheme are multi-family, single-family, co-living and luxury living.

Multi-family housing (apartment buildings) may be located near public transportation and have a greater focus on community spaces whereas single-family homes (typically houses) may feature car parking, private gardens, stripped-back amenities and proximity to schools, in keeping with a product suited to nuclear families.

Co-living offers flexibility, perhaps providing individuals with kitchenettes but also shared access to larger kitchens (cluster flats). Shorter leases may be possible and there are generally lower rental costs. At the same time, greater interaction with neighbours helps build a community reminiscent of student accommodation.

Luxury living, on the other hand, is at the other end of market. Such homes may feature premium furniture and fittings and designer kitchens and bathrooms and be in sought-after locations. As with BTR, luxury developments may offer gyms, restaurants and leisure facilities.

BTR assets are intended to be owned and operated for decades and, consequently, a long-term approach to planning and development is crucial. Amenity spaces don’t typically generate income so must enjoy sufficient usage from residents to be regarded as being worthwhile. Such areas must also be adaptable to move with the times. Similarly, tenants want to feel they have a voice in how ESG issues are managed during the lifetime of the building and facilities.

Student accommodation

The UK has considerable domestic and international higher education students and numbers continue to rise. An undersupply of accommodation means that the market for purpose-built student accommodation (PBSA) remains robust, with few voids during the academic year. Historically, universities were the main providers of PBSA but developments backed by private sector capital now dominate the segment. The leasing model is generally direct lets and/or nomination agreements. Student accommodation largely comprises studio or cluster flats, while students with young families may require more bedrooms. With local authorities taking different approaches, securing planning is one of several challenges facing the sector.

Later living  

This broad categorisation can cover accommodation for those beyond retirement age but also those people who are preparing for such a transition but are still working. Singles or couples usually live independently in a sensibly-designed environment but with access to care and support if required. That distinguishes this grouping from care or nursing homes where residents require regular or round-the-clock specialist care.