Private Rented Sector consultancy
Our team provides bespoke PRS development consultancy advice to help clients create the most attractive product for the tenant, maximise efficiencies for the operator and ultimately optimise its value within the investment market.
In this rapidly evolving sector, it is essential to deliver the best scheme both now, and for the future, to ensure that the scheme can compete over the longer term and retain its value. Our team is currently leading the market in this respect, by adopting an in-depth research based approach, with in-house research specialists, architects and financial modellers. We also continue to learn from our international colleagues, enabling us to deliver an unbeatable service in this emerging and exciting sector.
Our service includes:
- Provision of the macro and micro-economic environment in order to understand the broader context.
- Detailed analysis of local housing market trends and conditions, again providing an important framework for our supply, demand and pricing research.
- Tenant demand; we look at the socio-demographic profile of the area, migratory patterns inward and out, as well as a view on trends over time. We study this at a granular local level, as well as broader, reflecting the fact that tenants are inherently more transient and are more willing to move to new areas. By looking at a wide range of metrics, we can build up a strong steer on the tenant socio-demographic profile, affordability thresholds, and the depth of demand.
- Detailed supply analysis, both current and future, in relation to quantum, type, specification and pricing points.
- Our thorough supply and demand analysis feeds into our understanding of rental position, rental growth prospects and absorption rates, which all enables us to work up a sound, market-aware design brief.
- Our design advice covers the overall building envelope, right through to the detailed internal specification, layouts, materials, etc. This is driven by our knowledge of tenant demand, and the requirement to drive operational efficiencies, but it is mostly mindful of maximising investor return.
- We also look at the requirement for additional amenities and services, both to meet current and future market expectations, as well as with regards to generating additional income streams. The implications of these are worked into our design, build cost and operational assumptions.
- Following the design freeze, we co-ordinate and ultimately steer the design team, working alongside our financial modelling team, on what is often an ongoing iterative process, to ensure that we deliver the most optimum scheme.