I was very pleased to work with the fantastic Bricklane Technologies team on their recent £600m joint venture with the Moorfield Group. The deal is reportedly the largest tech-driven investment in UK residential property to date.
The JV aims to acquire around 2,000 one to four bedroom houses and flats over the next 24 months with an initial focus on London, Bristol and the South East. Using Bricklane’s technology, the JV will target attractive sub-markets with deep granularity, using unique bottom-up data to acquire rental properties that are expected to outperform in those areas at an unprecedented scale. Once units are acquired, the JV will seek to grow income and capital values through active asset management and refurbishment, with the aim of delivering a professional, high quality proposition for tenants.
The Boodle Hatfield team was lead by Andrew Wilmot-Smith, Rahul Thakrar and myself. I know we all enjoyed working on such an interesting deal!
Further details on the transaction can be found in Property Week's report below.
Moorfield Group has partnered with proptech company Bricklane to build a £600m PRS portfolio in the next two years,