A specialist platform aimed at supporting the rapidly growing build-to-rent (BTR) sector is being launched by Centrick this week at MIPIM, the world’s largest international real estate event.
Property specialist Centrick, which was one of the first agents to operate in the BTR sector, says VICI will be the only truly end-to-end build to rent platform for property developers and funds.
Company founder James Ackrill and a team of directors will meet a range of major clients, developers and investors at VICI’s official launch event at MIPIM, in Cannes, on Wednesday, March 15.
The Centrick delegation includes BTR specialist Neelam Saihjpal, who was recently appointed as director to lead the new VICI team in its drive to win business across the UK, founder James Ackrill and managing director Phil Johns, as well as industry veteran Jane Morcom. Centrick has offices in Birmingham, Solihull, Nottingham, Southampton and London.
A BTR development is designed to appeal to the rental market as opposed to long-term home ownership. A recent report by the British Property Federation showed that the UK BTR sector grew by 15% between Q3 2021 and Q3 2022 and regional BTR grew at almost triple the pace of London (20% vs 7%) in the same period.
The number of BTR homes either completed, under construction, or in planning now stands at over 240,000. Completed BTR homes could increase fivefold to reach more than 380,000 in the next decade, with the sector’s worth growing to £170 billion, the report predicts.
James Ackrill said: “We are incredibly excited to announce the launch of the VICI brand and platform at MIPIM, the world’s greatest international real estate event. Centrick has extensive experience in the BTR sector and this new, dedicated division will work alongside developers and funds operating in the rapidly expanding build-to-rent sector. Investment in BTR has soared in recent years and it has the potential to grow significantly in cities and towns right across the UK.
“There is a demographic of young people finding it increasingly difficult to buy their own homes, leading to a greater need for high quality homes to rent. The BTR sector is very well-placed to make a major contribution to the provision of thousands of much-needed new homes and is an attractive proposition for investors and developers.”
He added: “By combining Centrick’s world class talent, industry leading technology, unmatched lettings team, and our management and practical expertise, VICI will deliver seamless performance at all stages of the BTR journey – connecting the dots between people, platforms and experience.”
VICI director Neelam Saihjpal said: “Centrick has been delivering solutions and services for BTR clients for many years and has successfully managed a number of BTR sites. Crucially, we’re not just advising clients, we’re operational experts at every stage, letting and managing these developments with a strong focus on community engagement. The launch of VICI here at MIPIM will take our BTR service to another level.
“It is a fast-growing sector and there is a huge amount of investment going into it. We are therefore excited about what the future has in store as we introduce the VICI build to rent platform to investors and developers.”
About Centrick
Centrick prides itself on being a company of knowledgeable industry experts with a joined-up approach to all aspects of residential and commercial property. Innovation is at the heart of everything it does, helping it to adapt to the ever-changing market. This is all underpinned with a strong ethical code of trust and family values, where the team works as one to deliver exceptional service.
Specialists across both residential and commercial property sectors, Centrick is forward-thinking and agile; always looking for new ways to work flexibly to meet the needs of its clients, using its strength and depth, across the property sector. By investing in talent, leading the way on industry practices, developing its technology and systems, it delivers an outstanding service to clients. Providing services across the UK, with offices in Birmingham, Solihull, Nottingham, Southampton and London, Centrick’s services include:
- Residential sales
- Residential lettings
- New homes
- Build to Rent – BTR, Student & SFH
- Asset Management
- Insolvency
- Estate Management
- Commercial sales
- Commercial lettings
