New dedicated build-to-rent company, Adler Estates, has launched in Exeter as part of a new division of the Eagle One group of private property companies.
With established residential, commercial, industrial, retail, and leisure property divisions already under its wing, including Blue Cedar Homes – the successful, specialist developer of luxurious homes for the over 55s – Adler Estates brings an entirely unique offering to the Eagle One group. The creation of a portfolio of build-to-rent housing has been set up and is responding to the urgent, rising demand for rental housing across the Westcountry. The region is mirroring the crisis in the rental market around the UK.
Sky News’ recent analysis of data from SpareRoom showed the average number of enquiries per rental ad in the UK was almost four times what it was in September 2019, rising from 3.2 to 11.9 in three years. (Sky News).
Lauren England-Shepherd, Residential Lettings Manager at Adler Estates, says: “We’re all noticing how rising interest rates are heavily impacting homeowners and the property market, but perhaps overlooking the colossal knock-on effect this creates for the availability of rental homes.
“Not only are rising interest rates making mortgages either too expensive or unavailable for many first-time buyers, but also make it increasingly difficult for landlords to hold on to buy-to-let properties without substantially hiking up rent costs.
“These combined factors are putting the UK rental market under immense strain, with landlords being forced to either sell rental properties or increase costs, and potential buyers finding themselves in a position where they’re unable to move out of rented accommodation. Together, this has created the perfect storm for a rental housing shortage.
“With the new launch of Adler Estates, which is fortunate enough to not face these challenges, we hope to meet the huge demand for quality rental housing, and in turn alleviate the shortage of housing and support our local communities. We will be bringing forward a mix of high quality, professionally managed, single to family units which have been purpose-built to a high specification for renters. We have a number of developments already in construction with more in the pipeline.”
James May, Residential Property Manager at Adler Estates, adds: “Adler Estates’ first development will include the construction of Principia, a collection of 12 one and two-bedroom apartments to rent next to the Exeter Science Park. Perfectly positioned next to junction 29 of the M5 motorway in Exeter, Devon, these newly constructed homes are ideal for young working professionals looking for easy access into the city centre.
“The high-specification apartments will be supplied by a district heating system, and include all white goods and appliances, alongside solar panels for the benefit of the tenant. The first properties at Principia are now ready for occupation.”