Conference aims to make build-to-rent happen in Scotland

PRS Forum Scotland 2015 – Making Build to Rent Happen in Scotland has been organised by Movers & Shakers in association with Grosvenor Group and is supported by Homes for Scotland and the Scottish Property Federation.

The conference, at the Roxburghe Hotel, will discuss how best to speed up and increase the number of ‘build-to-rent’ housing developments in Scotland.

The one day forum will bring together public and private sector organisations as well as key stakeholders to discuss a range of issues such as the planning and policy changes required to make ‘build-to-rent’ happen, how the public and private sectors can work together for mutual gain and what funding models are needed to deliver the required results.

Margaret Burgess MSP, Minister for Housing and Welfare, will open the forum and give a keynote address, as will Gerry More, Homes for Scotland PRS Champion. Mr More points out that while the build-to-rent/private rented sector (PRS) in itself is not new, what is different is the way these developments are now funded. “The model currently being used successfully in Europe and North America involves funding by long-term, patient institutional investors. However, while the amount of institutions holding residential properties for rent is quite high in other countries – over 10% in North America and up over a third in some European countries - it is less than one per cent in Scotland and the UK.”

How to make PRS development viable is a key priority for Grosvenor Britain & Ireland (GBI).

Commenting on the issue, David Yaldron, director of city centre developments for GBI said: “We need to focus on addressing supply-side issues if we are going to alleviate the housing shortage problem and PRS could have a significant role to play in quickly delivering new homes at scale that are managed for the long-term. Well-done PRS schemes have the ability to help knit together growing communities and can be a positive enhancement to urban neighbourhoods. I believe that, if we can establish a viable model for PRS with policy-makers, the sector can help ensure that Edinburgh continues to be an economic success story.”

Other speakers at the forum include Richard Slipper, senior director planning, development & regeneration for GVA James Barr, who thinks that the challenge, in relation to improving the housing supply is to improve planning guidance and to speed up development plans that could pave the way for allocations of new housing.

“This process continues to face obstacles when it comes to policy and process. Therefore any opportunity to progress urban, or brown field sites which are suitable for higher density build-to-rent development should be seized.”

*PRS Forum Scotland 2015 – Making Build to Rent Happen in Scotland, 8am – 5pm, Thursday 8 October 2015, Roxburghe Hotel, Edinburgh. www.prsforumscotland.co.uk