December 22

Lloyds Bank’s Build To Rent Challenge: Shift from Buy To Let


The rising popularity of serviced apartments attracts guests seeking hotel-like comforts while maintaining their privacy. To stand out among the competition and increase profitability, it’s crucial to enhance your marketing strategies for your multiple properties in town.

Citra Living, the Build To Rent division of Lloyds Banking Group, has unveiled its latest project—a development featuring 95 flats located within Nottingham’s British Waterways building. This Grade II-listed residential unit has been entirely acquired by Citra, marking a significant addition to its expanding portfolio, which already encompasses over 2,000 homes across the UK.

This strategic move further solidifies Citra Living’s presence in the property market, emphasizing its commitment to providing rental housing solutions. The 95-flat development in Nottingham reflects the company’s dedication to creating diverse and high-quality living spaces for residents, aligning with the broader vision of Lloyds Banking Group in the real estate sector.

With the acquisition of this historic building, Citra Living continues to play a notable role in the Build To Rent market, contributing to the transformation and revitalization of urban living spaces. The development at the British Waterways building stands as a testament to Citra’s ongoing efforts to address the evolving housing needs of individuals and communities across the UK.

In a strategic collaboration, Citra Living and H20 Urban have joined forces to bring forth a new residential development at Nottingham’s British Waterways building, encompassing a total of 95 flats. This notable initiative is part of a long-term joint venture involving bloc, a prominent developer, and the Canal & River Trust, which oversees the surrounding canal network. The Grade II-listed residential unit, now under Citra’s ownership, marks a significant addition to its expanding portfolio, comprising over 2,000 homes across the UK.

This partnership is rooted in a shared vision to rejuvenate underutilized land and structures in close proximity to waterways infrastructure. The joint venture’s overarching goal is to unlock the social and economic potential of the canal basin site, ensuring a sustainable and transformative impact on the surrounding community. Through this collaboration, Citra aims to contribute to the positive regeneration of the area while maximizing the potential of the sensitive canal basin site.

The development includes an array of housing options, featuring studio, one, and two-bedroom homes, designed to cater to diverse residential needs. Beyond individual living spaces, residents will benefit from thoughtfully designed communal areas, fostering a sense of community within the development. Moreover, the project emphasizes connectivity with the urban environment by incorporating a canal-side public realm, creating a harmonious living experience. Additional amenities such as car parking in the basement and secure internal cycle parking further enhance the convenience and accessibility of the development, aligning with the city’s ongoing efforts to improve its cycling infrastructure.

The extensive refurbishment of the British Waterways building stands as a testament to Citra Living’s commitment to revitalizing historic structures. This ambitious project not only involves comprehensive renovations but also introduces a rooftop extension that will house eight apartments, each offering breathtaking views of the cityscape. What sets this development apart is its thoughtful integration into the existing design, with the parapet cleverly serving as a discreet guard wall, ensuring that much of the extension remains concealed from the casual observer at street level.

Citra Living, established in 2021, has been actively expanding its property portfolio, demonstrating strategic growth with recent acquisitions of over 100 homes. These acquisitions include prominent developments in Nottingham and Leicester, a result of collaborative efforts with renowned national housebuilder Keepmoat. This move reinforces Citra’s dedication to providing high-quality residences across various locations, each contributing to the company’s vision of creating distinctive living spaces within historically significant structures.

The unique heritage development at the British Waterways building aligns with Citra Living’s ethos of combining modern living standards with the preservation of iconic architectural landmarks. Andy Hutchinson, the Managing Director of Citra Living, emphasizes the profound significance of this project, considering it not just as a property addition but as a transformative endeavor that enriches the cultural and architectural fabric of the community.

“As well as preserving this important building for years to come, the apartments will also help address a lack of purpose-built accommodation in Nottingham, as well as helping to look after the canal network.

“We’re working in partnership with a wide range of leading developers and house builders to address the increased demand for rental properties across the UK, and we look forward to any future opportunities our relationship with H20 Urban brings.”


Read more Property Investing News HERE



Built To Rent, Citra Living, Lloyds Bank, Lloyds Bank's Build To Rent Challenge

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