Lloyds Living has significantly expanded its private rented sector (PRS) portfolio with the acquisition of the Start Living scheme, a 610-home portfolio established through a joint venture between Gatehouse Living Group and TPG Real Estate. The acquisition includes 578 single-family houses and 32 low-rise apartments, increasing Lloyds Living’s total UK holdings to over 7,300 homes.

The newly acquired homes are located across key regions including West Bromwich, Nottingham, Liverpool, Grimsby, Scunthorpe, and Coseley near Bilston. The apartments are part of the Fairham development in Nottingham. More than 550 of the properties have already been delivered and stabilized, with the remainder scheduled for completion by the end of 2025. All homes achieve an Energy Performance Certificate rating of B or higher, placing them among the top ten percent of UK homes for energy efficiency. The portfolio will continue to be managed by Ascend, one of the country’s largest residential property management firms.

This acquisition strengthens Lloyds Living’s position as a major build-to-rent operator and supports its growth strategy within the UK rental market. The deal highlights the increasing maturity of the secondary PRS market, which facilitates capital flow and ongoing investment in new housing developments.

The Start Living portfolio was created to address rising housing demand in the UK amid limited supply, focusing on energy-efficient and sustainable properties for families and commuters. Since its inception, the joint venture between Gatehouse Living Group and TPG Real Estate has deployed over £1 billion in capital and delivered or constructed more than 5,000 homes. Lloyds Living’s acquisition of the portfolio underscores the importance of institutional investment in UK rental housing, with an emphasis on quality, sustainability, and long-term community development.