Leaders in the Build-To-Rent (BTR) sector, national architecture firm i2C Architects have completed an explorative trip to the UK, where BTR expert and i2C Associate Architect and Residential Lead Marcus Greening met with industry experts to dissect what has allowed the model to succeed.
Throughout the trip, Marcus witnessed the developing nature of BTR projects in London, Brighton, Manchester, Leeds and Glasgow, where this type of development model has been prevalent for the past decade.
“BTR is responsible for housing an incredibly large number of people in the UK. The most successful schemes we saw were ones that integrated the BTR community with the wider social fabric, which in part
is understanding the diverse types of demographics that go into creating a community.
“These projects actually utilised the wider neighbourhood for their amenities, allowing the community to participate in the overall success of these BTR projects, creating a ‘village like’ feel, that is often lost in traditional multi-res developments,” he said.
Marcus’ trip comes just as the Australian Government announced the 2023-24 budget, with BTR being one of the big winners, seeing Managed Investment Trust (MIT) Withholding Tax reduced from 30 per
cent to 15 per cent, plus the introduction of incentives to address housing shortage issues by boosting the development pipeline from 2026-27.
With the BTR model of living now firmly in the spotlight, and earmarked as part of the solution to Australia’s housing crisis, Marcus said now is the perfect time to examine the best practices for introducing the model into the areas set to receive new BTR projects.
“The success of the BTR model is defined by the overarching objectives of the developer, who will retain ownership of the building for 30 plus years, placing a greater emphasis on longevity – of both common
spaces and apartment fixtures and finishes. Essentially the most intuitively designed projects that prioritised resident wellness and lifestyle quality, were the projects that excelled in the UK.
“This goes hand in hand with more sustainable practices, which in turn can minimise outgoings and running costs. The i2C team believes we have a responsibility to assist developers in meeting ESG targets, with some BTR investors now putting sustainability credentials at the forefront of their decision-making process,” he said.
The number of BTR properties in Australia is set to reach 16,000 by 2027, which is a significant indicator of the changing mentality around property ownership.
“As inflation and cost of living continues to chip away at the ability of regular Australians to become home-owners, BTR challenges the traditional notion of buying your own home and setting down roots.
It’s a model which eradicates the expense of home ownership and mortgages, but still offers the ideation of community which resonates so well with Australians,” said Marcus.
Marcus’ trip was undertaken as a corporate exchange with i2C Architects partner firm, Ryder Architecture.
The collaborative effort has become known as Ryder Alliance, and now encompasses a network of 12 partner firms with over 1300 people in 26 cities. i2C Architects and Ryder have worked closely since 2011, after a chance meeting saw the businesses impressed at how their synergies and design approach were
so like-minded.
For more information on i2C and its projects, please visit https://i2c.com.au/
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