More than 150 new homes will be built in Bristol (England) city centre, but you won’t be able to buy them.
The flats in Avon Street, close to Temple Meads station, will be specifically for the rental market in a bid to address the rising rents problem in the city.
Mathieu Elshout, investment director real estate at PGGM, said: “This partnership allows us to build and own good quality residential assets in the UK at scale, with a high degree of control over our investments. As a responsible investor we believe that we have an obligation to contribute to a sustainable world. We can do so via impact investment, or investing in solutions, as we call it.
“This partnership not only addresses the supply/demand imbalance, it also aims to improve the UK’s built environment; acting as a catalyst for wider urban regeneration and creating rental stock in sustainable urban schemes centred around key transport hubs,” he continued.
The derelict site in Avon Street, inside the Temple Quarter Enterprise Zone, is called ND7 and has permission for 168 homes.