L&G and Clanmil forward fund £155m build-to-rent development in Belfast

A spokesperson for Clanmil said the landlord is “delighted to be part of this important regeneration project for Belfast City Centre”, delivering 81 social homes. 

“With more than 12,000 people on the housing waiting list for Belfast, we are grateful to the Department for Communities and the Northern Ireland Housing Executive for their support in delivering much needed new homes for people to live well,” they said.

Alex Pease, chief investment officer at Watkin Jones, said: “We are delighted to have secured institutional investment from both L&G and Clanmil Housing Association for this landmark scheme in Belfast’s iconic Titanic Quarter. 

“This is further evidence of the attractive investment and operational fundamentals of both BTR as a sector and Belfast as a city and a good sign of capital markets reopening.”

He said the Titanic Quarter will develop an area that is “steeped in rich history, transforming this brownfield site into a thriving place to live and acting as a catalyst for wider regeneration”. 

“The development is being brought to fruition by a true partnership approach between all stakeholders and funders and we are grateful for the genuine collaboration we have experienced with our partners,” Mr Pease added. 

Anthony Best, managing director at Lacuna Developments, said: “Loft Lines will deliver build-to-rent, affordable and social housing as well large amounts of public realm and major green travel measures.”

Last year Clanmil secured a £100m private placement from three investors.

It said the deal with Aviva Investors, iA Financial Group and the Pension Insurance Corporation will support the delivery of the social landlord’s five-year strategy to provide a further 1,400 homes by 2026. 

It will also go towards maintaining and upgrading its existing homes to ensure they are energy efficient and in good condition.