The build programme is already underway at the new Bath Lane development, the second of many projects Wise Living are working on in partnership with Strata. Construction is set to complete in Autumn 2022 and once finished, will offer 36 one and two-bedroom homes.
The second development, estimated to be worth £7.3M, will be built across the road from their existing scheme The Old Brewery on Great Central Road. The site will comprise 51 new homes, including 27 one and two-bedroom apartments and 24 two and three-bed houses. This site is being built in partnership with Keon Homes, the third development the two companies have collaborated on following sites in Coventry and Wolverhampton.
The Great Central Road and Bath Lane sites will take Wise Living’s total properties in Mansfield to 162, following the hugely successful launch of The Old Brewery last year. Both are funded by PGIM Real Estate.
Mark Gratton, Land and Partnerships Director at Wise Living, comments: “Regardless of the impact of the pandemic, we have continued to see high demand within the build-to-rent market during the last 18 months. The East Midlands is a key region in our strategy, and we know renters in Mansfield want quality family homes with easy access to key amenities - you only have to look at the success of The Old Brewery in 2021 to see how high demand is.
“This announcement marks our growing portfolio in Mansfield and alongside our key partners, Strata Homes and Keon Homes, we have plans in place to continue to provide high-quality rental properties in areas of cities and towns where there is high demand, but a clear undersupply to meet it.
“Our own research in 2021, showed that almost half of UK renters want to live in areas that have easier access to green spaces - so we know it’s locations like here in Mansfield where people want to live.
“Working with like-minded housing developers is a core part of our model and we are delighted to be delivering these two much-needed sites to Mansfield alongside Strata and Keon.”
