The 260 homes are largely comprised of two- and three-bed houses featuring air-source heat pumps and solar panelling, with the first handover of units expected to take place in March 2024 and final handovers in Q3 2027.
The homes are part of masterplans which will provide not only new homes but also new community facilities, schools, and employment space, in well-connected locations.
LGSBTR is owned by Legal & General Capital (LGC), the alternative asset platform of Legal & General Group.
David Reid, Managing Director, Legal & General SBTR, said: “We’re delighted to begin a new strategic partnership with Miller Homes, simultaneously creating assets for our annuity division and other pension schemes and addressing the significant demand for quality rental housing across the UK.
“Now more than ever, we must deliver diverse residential offerings, to better accommodate the broad range of different households that exist in the market. This includes the provision of reliable, long-term rental options. At LGSBTR we are determined to meet that need with high-quality, well-managed, and thoughtfully designed properties to help people live healthy and happy lives.”
Benjamin Massey, Divisional Managing Director, Miller Homes, said: “This marks the start of an exciting long-term partnership. We are pleased
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