Activity Focus

Selling Homes

Mabec’ St Johns site in Lincolnshire is being developed to provide new houses to the owner occupier and rental opportunities to the buy to let investor.  Being built in a number of phases, 37 units have been sold todate and the second phase of some 20 units has just started with preparatory and building work ongoing.

The approach of  building  a “home not a house number” is becoming a reality at St Johns.  The listed buildings provide truly individual properties – no two units are the same.  With the new build, we use different external materials and designs to create a picture and environment that is comfortable on the eye and a place where people want to live.

Private Rented Sector

There has been considerable talk about the potential of the Build to Rent Residential Sector  in the UK in recent times.  Apart from a number of headline deals, the sector is still in its infancy.  A growing population and with affordability making “the UK’s home owning dream” an impossibility for an ever growing section of the population, the prospect for the UK moving back towards a nation of renters offers a significant business opportunity to those with the skill base to take advantage.

Mabec managers have previously developed a significant portfolio to be held to rent, long before the term Build to Rent was general investment terminology.  We have recently rejoined this sector with the purchase of the Sheffield site and projects in Leicester and Nottingham that are all soon to be the subject of planning applications. At Sheffield the conversion of three obsolete office building will provide an array of studios, plus one & two bed apartment.  The fact that two of the building are listed and were part of the original Sheffield Hospital, dating back to the late 1700’s, will make for something quite special.

In Nottingham, we have a joint venture to redevelop semi derelict accommodation above retail in  a city centre Victorian block and Radford Mill, where the investment to be created will be a “residential village” providing living space for the student, young professional though to potential families.  A site in Leicester is being worked on to deliver a higher rise residential apartment block to let.

Student Accommodation

Student applications and enrolments to UK universities remain strong.  Purpose built accommodation is boasting high levels of occupancy, with the better accommodation significantly oversubscribed.  New product that keeps pace with the demands of the student customer for quality and service will benefit most from rental and capital growth.

Figures suggest that a significant proportion of the entire stock of purpose built student accommodation has changed hands in the last three years.  Recent times have seen a plethora of deals worth billions of pounds on an international scale and the investment market has generally now accepted the student sector to be part of the mainstream institutional investment market.

Mabec have just opened the doors to students in two former office tower block that have been converted into student studios.  Redeveloped  in record time to meet the 2016 academic year intake, the majority of the 350 studios were able to be completed and were all but fully let on opening – testament to the desirability of Nottingham’s quality universities and the quality of the Mabec product.