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QSix, a specialist real estate asset manager, has launched a new housing business targeting rental and affordable homeownership properties for families in England.
Launched today, Rezide will work with house builders, institutional investors to develop two, three and four-bedroom properties for rent and shared ownership.
Rezide said its rented properties will be available on a “range of tenancies designed to offer choice, value for money, security and flexibility”. The organisation said it will offer the option of buying an affordable home with the Help to Buy scheme, which is due to end in May.
Rezide will be led by Nick McAlpine-Lee, former chief executive of for-profit housing provider Heylo Housing.
Neil Fitzsimmons, non-executive director at the Home Builders Federation, will serve as chair. Mr Fitzsimmons previously served as chief executive of Avant Homes and major house builder Redrow.
Lynn Gilbert joins Rezide’s board as non-executive vice-chair. She is currently a non-executive director at Hyde Housing and has worked for firms including M&G, Barclays Capital and Morgan Stanley.
Rezide said its homes will come with 999-year shared ownership leases and full new home warranties. This follows a government announcement in January giving all leaseholders in England the right to extend leases by up to 990 years at zero ground rent.
Chief executive Mr McAlpine-Lee said: “Our mission is simple: to boost the supply of quality, new-build family homes in England and to help make the aspiration of homeownership a reality for more people.
“Rezide will create greater opportunities with improved ways to rent a home and bring homebuyers into the housing market by giving more people the opportunity to buy a share of their home. In doing so, we will develop new additional housing in partnership with high-quality home builders, helping to accelerate the delivery of the houses we need for the future.”
Mike Hilton, chief executive of QSix, said the move represents the firm’s renewed focus on socially responsible opportunities.
He said: “Bringing forward much-needed new family homes in both rented and affordable homeownership formats offers attractive risk-adjusted returns for institutional investors at a time of great interest in the residential asset class.”
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