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Exciting times for BRIP in 2021


25th January 2021

We’re pleased to report that BRIP 3 has got off to a strong start. Two investments have been secured in Blakeney and Highcliffe and we have agreed to acquire a further project in Long Buckby, subject to contract. The site in Blakeney was secured in September 2020 and will provide seven family homes, which will be constructed of brick and flint, traditional to the area. Blakeney is an extremely popular coastal village on the Norfolk Coast in an Area of Outstanding Natural Beauty, and two homes have already been reserved, which is a great result considering construction has only just started and is testament to the strength of this regional market. The second scheme is located in Highcliffe, a highly sought-after seaside town on the south coast. The site here has planning permission for 13 apartments overlooking the sea and was secured in November 2020.  

We have a strong pipeline of projects, which we are confident will deliver our target 25% return on capital  to investors. As BRIP 3 will shortly be fully invested, to take advantage of these pipeline opportunities we are delighted to announce that, this month, we have started fundraising for BRIP 4. We have agreed terms on a number of exceptional sites which will provide high-quality family homes in rural locations. The sites have a good geographical spread and are in the ‘golden triangle’ of Yorkshire near Wetherby; in the historic town of Mendlesham, in Suffolk; in West Horsley, Surrey; and in the sought-after village of Goring-on-Thames, in Chilterns Area of Outstanding Natural Beauty. These projects will provide 54 family homes, with a Gross Development Value of circa £22 million.   

According to Nationwide, house prices rose by 7.5% in 2020. In the short-term analysts believe activity in the housing market will continue to perform strongly as buyers look to complete purchases before the end of the various policy support measures including the furlough scheme, Stamp Duty cuts and mortgage payment holidays. Beyond March, the market may soften slightly as this support is withdrawn but  there is a lot of positive sentiment following the announcement of a Brexit trade deal and the roll out of a COVID-19 vaccine, combined with the structural changes brought on by COVID. The demand for family homes in quality rural markets will continue to be underpinned by the prevalence of homeworking and demand for more space and a garden. Savills forecast house price growth to be flat this year but expect growth in the regions to be strong and to outperform London over the next five years. 

For more information on BRIP please click here and register to attend our next webinar on the 26th January at 09:00. 

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