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Canary Wharf Group prepares to launch first build-to-rent project
Transactions - DECEMBER 17, 2019

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Canary Wharf Group prepares to launch first build-to-rent project

by Andrea Zander

Canary Wharf Group’s new build-to-rent arm Vertus is launching its first development on the privately owned Canary Wharf estate.

Located at 10 George Street, a collection of 327 apartments available exclusively to the rental market will be available to lease from early 2020. The build-to-rent market has seen significant growth over the past year, with recent research showing there are now close to 150,000 build-to-rent homes completed, under construction or in planning across the United Kingdom, a rise of 20 percent from the same period in 2018. London and Manchester have been the most popular with other major cities following close behind.

Homeownership in the United Kingdom is at its lowest point since 1986, with 46 percent of 25-34 year olds living in private rental accommodation, which has risen from 24 percent a decade ago. The stamp duty levy on second homes has had a significant impact on the number of small-scale investors in the rental sector, stimulating th

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