The 194-home build-to-rent scheme being developed by Cubex will be one of the first to open in Bristol. Build-to-rent – clusters of professionally managed homes designed specifically for rent – is one of the fastest-growing areas of the housing market.
Nearly a quarter of Bristolians rent privately, according to Bristol City Council, and the number is only expected to go up.
A mix of studios, one and two-beds will be available at Finzels Reach, spread over two neighbouring blocks. Grainger is targeting the mid-market with its developments, meaning that the homes at Finzels Reach should appeal to a wide range of people already living and working in the area.
All residents of Hawkins Lane and Georges Wharf Apartments will also have access to a range of contemporary shared spaces, including a 500 sq. ft. sky lounge, complete with a dining space and kitchen, which residents will also have the option to book out exclusively for entertaining friends.
Unlike buy-to-let landlords or traditional letting agents, Grainger is not charging any admin or renewal fees and will offer flexible, long-term tenancies of up to three years, as the award-winning company wants to transform renting from being a tenure of last resort into a genuine alternative to homeownership that is good value for money. Rents, which will be announced closer to completion, will also include superfast fibre optic broadband that residents can access from day one.
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Hawkins Lane and Georges Wharf Apartments sit right at the heart of Finzels Reach, a mixed-use regeneration project by Bristol-based developer Cubex. Willmott Dixon, one of the UK's biggest construction firms, is building the homes for Grainger.
Finzels Reach is one of the largest mixed-use regeneration projects in the South West and is the creation of Cubex, the Bristol-based company that rescued the site from receivership five years ago, with investment from London-based Palmer Capital.
The site has a rich history, once being the heart of the medieval city, later becoming home to a sugar refinery and then the site of a brewery. It lies on the Floating Harbour, a short walk from Temple Meads Railway Station and Cabot Circus. The development blends historic and contemporary buildings, including a hotel, offices, housing, plus retail and leisure. Finzels Reach is connected to Castle Park and Bristol Shopping Quarter by a brand-new pedestrian bridge and hosts a weekly street food market that Grainger residents will be able to enjoy.
Helen Gordon, chief executive of Grainger plc, said: "Bristol faces the same housing pressures as many other major UK cities, particularly a shortage of quality rental housing that is crucial to meeting the needs of today's workforce, which is increasingly flexible and global in its outlook.
"With Hawkins Lane and Georges Wharf Apartments we are aiming to deliver high quality homes for rent in a great location with good customer service, designed to attract people who will want to rent with Grainger for the long term"
Councillor Paul Smith, cabinet member for housing and communities at Bristol City Council, who performed the topping out ceremony added: "Bristol needs a mixture of different types of housing and professionally-managed, quality rental homes of the type Grainger will be providing at Finzels Reach are a key part of this and are important to the city's long-term growth and prosperity."
Gavin Bridge, director of Cubex Land, said: "In choosing Grainger to partner with us on this project, we knew we would be adding not only much-needed high quality accessibly-priced rental homes to the housing mix at Finzels Reach, but also bringing in a long-term investor who would have a real stake in the community."
John Boughton, deputy managing director from Willmott Dixon, concluded: "As a Bristol-based company, we are very proud of our work to build Hawkins Lane and Georges Wharf Apartments. They add to our growing portfolio of successful build-to-rent projects and underline the strength of our expertise in the residential sphere."
(MH)
