TPG Real Estate and Gatehouse Living Group have successfully sold their 610-home SFR portfolio to Lloyds Living, marking a strategic move to capitalize on growing demand for rental properties in the UK housing market.

Target Information

TPG Real Estate and Gatehouse Living Group have announced the sale of their 610-home single-family rental (SFR) portfolio, named Start Living, to Lloyds Living. This portfolio, established through a joint venture in 2021, comprises 578 two-to-four-bedroom homes and 32 low-rise apartments situated in various regions across England, including West Midlands, Nottinghamshire, Lincolnshire, and Merseyside. All properties feature an Energy Performance Certificate (EPC) rating of 'B' or higher, placing them within the top 10 percent for energy efficiency. This focus on sustainability reflects the portfolio's commitment to community and environmental stewardship.

Ascend, the largest third-party operator of SFR in the UK, will continue managing these properties after the sale to Lloyds Living. Established in collaboration with Gatehouse Living Group, the Start Living portfolio was developed to address the growing demand for quality rental homes in the UK amidst a growing population and limited housing supply.

Industry Overview

The UK single-family rental (SFR) market has seen significant growth in recent years, driven by increasing demand for flexible rental options amid changing demographic patterns. With a growing population and shifting preferences towards renting rather than