LREF 2016: The build-to-rent sector needs clearer guidance around design and more consistency around policy to unlock more development, according to grandees speaking at the London Real Estate Forum.
Argent partner Richard Meier said the private rented sector was playing an increasingly important part in Argent’s developments, which are large-scale regeneration schemes and benefit from faster placemaking, but that there were barriers in terms of policy and design standards.
“There are still barriers preventing the creation of the types of place we think are optimal for people to live in,” he said.
“One example is design standards. They protect against poor development, but on the other hand, that can start to prevent you from creating interesting places where people want to live.”
Katherine Rodgers, director of development, urban neighbourhoods, at Grosvenor, said the key issue was consistency and leadership from central government.
“What we need to see is consistent recognition that the rental sector has a big role to play in providing housing,” she said. “As well, there is a responsibility on the industry to have a consistent voice and set of requests: groups like the BPF are doing a huge amount to have that voice.”
The Greater London Authority has traditionally been at the forefront of the development of PRS policy, and Simon Powell, GLA assistant director – strategic projects and property, said the new London mayor was positive about the benefits of build-to-rent and keen to work with the sector.
“In terms of the mood music, the mayor and his team have been engaging with industry leaders for the sector, both before and since the election, to understand how the mayor can lead to let the sector grow,” he said.
Powell said that more housing and planning design guidance was expected to be issued by the GLA later this year.
