Homes England says Hull should look to Leeds as BTR market takes shape
Tom Bridges, regional director at the government agency, drew a direct comparison between Hull’s early stages of the build to rent market and Leeds’ earlier development at the recent East Yorkshire Development Update.
“There was a chapter about why there had been no build-to-rent development in Leeds,” he said, referring to work he had previously undertaken. “Now, five years later, look at it – and look at the cranes on the skyline.”
He said the change followed early “game-changing” schemes that established new quality and rental benchmarks, encouraging institutional investors to follow.
“That’s because the first movers came in and delivered schemes that changed the quality of the offer,” he said. “That established a rental benchmark that then encouraged others.”
Bridges said Hull is now at a similar inflection point, with East Bank Urban Village potentially playing the same catalytic role.
Hull City Council, working alongside ECF, recently lodged a detailed application for phase one of the Urban Village project and outline plans for the wider neighbourhood, which once complete will deliver around 850 new homes on the site opposite the Old Town.
The project is supported by £9.8m in Levelling Up funds, which will support enabling works and early infrastructure delivery.
“Someone has to go first,” Bridges said. “By establishing a new quality benchmark, you can also establish a new rental benchmark.”
He added that while Hull differs from Leeds in scale, the principle remains the same: early high-quality delivery can unlock wider market confidence.
The East Yorkshire Development Update took place at the University of Hull on 14 May. Further Place Media events throughout Yorkshire can be viewed here.
