Both assets will be managed by the business’ newly launched residential property management platform, ProperTies Living.

As a vertically integrated structure, ProperTies Living will enable Royal London Asset Management Property, part of the UK’s largest mutual life, pensions and investment company, to maintain control of the operational assets.

Royal London Asset Management Property is targeting a portfolio of 8,000 BTR units focussing on provision of quality and affordable private rented homes in markets where there is need, prioritising suburban and commuter markets in the UK’s largest cities, mid-sized regional cities and district centres. While initial investments have focussed on apartment blocks, the strategy will also seek to deploy into family housing.

The acquisitions in Thames Valley, consisting of a 349-apartment site in Bracknell and a 151-apartment building in Slough, demonstrate the investor’s approach.

Aspire, a nine-storey apartment block on Herschel Street, Slough, was completed in spring 2024. Close to the high street and railway station, it features EPC ratings of B and above, with sustainable design elements including electric heating, air source heat pump hot water, LED lighting, and EV charging points.

Located close to the centre of Bracknell, The Beeches is a forward-funded development scheduled for completion in the second quarter of 2027. The property will consist of 349 units across seven blocks, ranging from four to 16 storeys. Residents will benefit from a 24/7 concierge, gym, amenity spaces, work-from-home areas, and a lounge, all set within a landscaped estate. To enhance construction efficiency, an offsite-manufactured panel wall system will be used. The development is targeting EPC ratings of A and B, along with BREEAM Excellent certification.

Mark Evans, head of Property at Royal London Asset Management Property said: 'At Royal London Asset Management Property, we aim to generate long-term income for our pension customers by investing in future-proof, resilient assets across sectors. As the Build-to-Rent market strengthens and demand for high-quality homes in UK cities grows, now is the right time for us to enter the sector.'