Royal London Asset Management has pushed its build-to-rent portfolio past the 900-unit mark with the acquisition of two residential schemes in Watford and Barking, lifting its total residential holdings to 962 units. The investor is concentrating its presence across London and the south east, targeting suburban and commuter markets where housing supply remains under pressure.
RLAM forward-funded a 152-unit development at Abbey Quay in Barking alongside developer Weston Homes and separately acquired a 225-unit scheme under construction on Sydney Road in Watford. The deals follow earlier investments in Slough, Bracknell and Barking and form part of RLAM's wider living strategy focused on building a concentration of assets around the capital.
The Watford scheme is scheduled for completion in the third quarter of 2026 and will comprise a mix of one-, two- and three-bedroom apartments alongside landscaped communal space, parking and cycle storage facilities. The asset is already under construction and adds scale to RLAM's portfolio in the commuter belt north-west of London.
In Barking, the Abbey Quay project is expected to complete in late 2028. The development will deliver 152 apartments as part of a broader mixed-use regeneration scheme that will include retail, leisure and food-and-beverage space along the riverside. The longer completion timeline reflects the complexity of the mixed-use scheme and the phased nature of the riverside regeneration.
Both assets will be managed by ProperTies Living, RLAM's in-house residential operating platform, which oversees leasing, resident services and day-to-day management across the portfolio. The vertical integration of property management is central to RLAM's strategy of maintaining operational control and resident experience across its growing BTR footprint.
RLAM Living Fund Manager Paul Ruston said in a statement that the firm aims to deliver well-managed, high-quality homes that meet real local need while providing strong, long-term returns for investors. The emphasis on local need reflects the investor's focus on submarkets where rental demand is structurally underpinned by housing shortages and limited new supply pipelines.
ProperTies Living founder Tim Holden said the two schemes align with the company's focus on operating and managing rental communities over the long term. Holden added that the focus will be on creating well-run, welcoming homes that residents genuinely value, combining high-quality design, thoughtful amenity provision and an operational model built on service, care and consistency.
The acquisitions come as institutional investors continue to increase allocations to the UK BTR sector, attracted by strong rental demand, limited housing supply and the prospect of stable long-term income streams. RLAM's expansion reflects a broader trend of pension funds and asset managers deploying capital into purpose-built rental housing as a defensive, income-generating asset class with inflation-hedging characteristics and low correlation to traditional commercial real estate.