Edmond de Rothschild puts £71m build-to-rent portfolio on sale

If the schemes are fully let, their estimated rental value is around £6.1m per year.

Allsop, appointed by Edmond de Rothschild to sell the portfolio, is inviting offers in excess of £71m. Offers for individual properties will also be considered.

The asset manager operates around 3,500 homes in the UK across the private rented sector and affordable housing. This includes 10 operational BTR schemes, with 2,600 flats in total.

Its BTR schemes are mid-rise and spread across eight cities and towns in the UK, including Birmingham, Warrington, Nottingham, Leicester, Glasgow and Edinburgh.

Edmond de Rothschild’s private sector housing fund, launched in 2017, is worth just under £500m, backed solely by German institutions such as pension funds.

In October last year, Inside Housing Living met with the asset manager to speak about its mid-market approach.

It found that the average rent across the company’s private rented portfolio is £950 per month for a typical one-bed flat and £1,300 per month for a two-bedroom home.

Salaries for Edmond de Rothschild’s private renters range between £35,000 and £60,000, with most concentrated in the region of £40,000.

A total of 65% to 66% of the portfolio is let to people aged between 25 and 32. Two-thirds of the company’s private tenants are classed as key workers or essential workers.