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Bellway offloads 232-home BTR scheme in Dartford

Bellway London has sold a 232-home build-to-rent scheme under development in Dartford, Kent, to Starlight Investments.

The scheme, which is being delivered in three phases, will feature seven mid-rise residential buildings comprising studio, one-, two- and three-bedroom flats, all of which will be fully furnished.

Among the amenities, there will be a 2,000 sq ft rooftop terrace and a 3,500 sq ft commercial space located within the development.

Additionally, residents will have access to a 163-space car park.

Daniel Drimmer, founder and chief executive at Starlight Investments, said: “The addition of this community is part of our broader UK expansion strategy and showcases our continued momentum in the UK’s BTR market.”

The Toronto-headquartered real estate investment and asset management firm entered the UK BTR market in May this year through the acquisition of 922 built-to-rent flats across three projects in Manchester, Liverpool and Ashford, valued at a combined £225m. The deal was also Starlight’s first purchase in Europe.

Also in May, the firm bought 84 Kirkstall Road, a 111-home BTR scheme in Leeds, from KMRE Group.

Going forward, Starlight’s strategy will target BTR projects in London commuter belt markets as well as eight to 10 major cities across the UK. Through this strategy, Starlight is seeking to initially acquire £600m of assets representing a portfolio of 2,000-2,500 BTR flats.

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