February 28, 2022

The UK Single Family Home Opportunity - Moorfield Group

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The rise of the Build to Rent (BTR) sector in the UK and the high quality of the product being produced has been well documented. At Moorfield, we first invested in this space in 2012 and have built/renovated, operated, stabilised, and now sold over 750 units across the UK. We continue to support and invest in this sector, but by far the biggest opportunity for us looking forward is the professionalisation of the individual home to let.

There are approximately five million private renters in the UK and less than 60,000 purpose-built BTR units, so the vast majority of private renters still rent through private landlords. Unfortunately, the product is often characterised by poorly marketed, poorly managed, under-capexed homes meekly offering inflexible lease terms, high deposits, poor customer service and minimal energy efficiency. And anyone looking for a furnished product is going to be significantly underwhelmed. One of our key investment themes for our current funds is investing in this sector by acquiring existing Buy to Let product in scale, applying our brand standards to all elements of the customer experience and professionalising the product offering: full refurbishments with high-quality appliances, high-quality furniture of the same variety supplied across our BTR investments and improvements to EPCs of a minimum C rating.

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