Citra Living, the rental housing owner and operator that is part of Lloyds Banking Group, has acquired 63 homes from national housebuilder Keepmoat at its Waterside scheme in Leicester, marking the next step in their partnership.
A new neighbourhood at the gateway to Leicester city centre, Waterside forms part of the wider regeneration of the city’s waterways that is unlocking underused brownfield land along the River Soar and Grand Union Canal.
It will see formerly neglected industrial buildings transformed into a new neighbourhood of 300-homes. It also benefits from its proximity to a range of schools, supermarkets, and green spaces such as Abbey Park and Castle Park, as well as over 50 restaurants within a 15-minute walk.
The properties Citra has acquired include eight apartments and 55 houses, from one to four-bedrooms, designed to suit a range of residents from growing families to commuters and empty-nesters who want to be close to the city centre.
Seven properties have already been handed over to Citra, with a further 56 due to be completed by August 2024. JLL will provide property management services for these new homes.
Sustainability is at the heart of the development, with smart technology used throughout to improve energy efficiency and reduce emissions. In line with this, 95% of the homes that Citra has acquired will have an EPC environmental rating of ‘B’.
The wider Waterside regeneration project also includes plans for flood protection measures, enhancements to biodiversity and improved access to the canal and river.
The partnership between Citra and Keepmoat was announced earlier this year, with the aim of increasing the supply of high-quality rental housing across the UK by building Citra’s portfolio of purpose-built rental properties. This latest acquisition follows the partnership’s exchange of almost 50 homes at Gedling, Nottingham in August.
Andy Hutchinson, Managing Director of Citra Living, said: “The unused brownfield site at Leicester’s waterside has so much potential and, thanks to the ongoing investment from the Council and others, it is set to become a vibrant new neighbourhood that will benefit the community for generations to come.
“That’s what made it the perfect fit for Citra, as we continue to offer rental options where people want to live long-term, close to employment hubs and amenities.
“Like many other UK cities, Leicester has a striking shortage of homes available for rent, so, we’re pleased to be able to support Keepmoat in replacing unused land with high-quality, sustainable homes.”
Tristin Willis, Regional Managing Director at Keepmoat, East Midlands added: “Partnering with Citra to progress the development of the disused brownfield land at Waterside is a huge success for the area and is also paramount to Keepmoat’s commitment to creating sustainable communities.
“We’re extremely proud of our partnership model that allows us to work across local authorities, partners and housing associations to deliver much needed sustainable, new homes.”
