Lloyds Banking Group, the country's second largest lender, is planning on becoming one of the biggest institutional landlords in the UK. The retail banking giant plans to purchase 50,000 homes over the next ten years, starting with the purchase of 10,000 homes by the end of 2025. The properties will be let out using the newly launched 'Citra Living' brand and would focus on newly built, high-end properties.
Details published online suggest that Lloyds will build a portfolio worth £4bn and expect to generate pre-tax profits of around £300 million, suggesting a target yield of 7.5%...........etc.
https://www.landlordvision.co.uk/blog/build-to-rent-uks-largest-landlords/
Of interest to KPG I'd have thought?
Blackstone (among others) is doing pretty much the same thing in the USA, as is Vonovia in Germany. The bandwagon's rolling. . .