Lloyds has taken the next step towards becoming one of the UK’s biggest private landlords by expanding its portfolio to more than 6,000 homes.
The bank, which likes to say it's 'by your side' in its horse-heavy adverts, has for several years now been keen to be people's landlord too. Lloyds Living – the banking group’s property firm – has agreed another big property deal with Barratt Redrow, the UK’s largest housebuilder, as part of its build-to-rent partnership with the firm.
The 598 two, three and four-bedroom single family homes will be in 11 new and existing Lloyds Living sites including Berkshire, Oxfordshire, Buckinghamshire, Kent, Cheshire and Gloucestershire. The first homes are expected to be available to rent from July in Abingdon, Finchampstead (main image) and Crewe, with the rest delivered by the end of 2027.
Matthew Burgess, chief investment officer at Lloyds Living (pictured), says: “This new deal adds much-needed quality, family homes to the rental market in areas that have great access to jobs, schools and leisure facilities. These are homes people want, where they want to live.”
The partnership was founded in 2021, and the first large portfolio deal to build 604 homes was agreed in 2023.
Last summer, Lloyds Banking Group began turning its former office buildings into social homes, to provide good quality housing for families at risk of homelessness. It started with a site in Pudsey, West Yorkshire, to create up to 80 new homes which will be rented at about half the usual rate, and aims to develop more in the next few years.
Through Citra Living – which became Lloyds Living - it also began a pilot scheme in Cambridge to acquire suitable homes and work in partnership with housing organisations and councils, whereby Lloyds is the landlord, and councils take on everyday management.
In 2021, the group announced ambitious plans to acquire 50,000 BTR properties by 2030 to become the UK’s biggest landlord.
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