BTR and all that Jazz - From Edinburgh to Manchester: Unpacking the Future of Built-to-Rent

– A Week On The Road –

Tim Heatley, Capital & Centric

It has been an incredibly insightful week, listening to some of the top voices in our industry across Scotland and the wider UK.

By Sara Seravalli, Il Salotto

On Wednesday morning, I attended a panel discussion on Built-to-Rent hosted by Stephen Miles FRIAS RIBA at ADP Architecture ’s Edinburgh office. The line-up included Adam Russell (The Drum Group), Bruce Patrick Rhiannon Moore (Montagu Evans) and Jonathan Guthrie FCIAT . I’d been curious after BTR came up during our Herald Property Awards breakfast panel - “City Living: The Future of Glasgow” - so I went along to learn more.

After more than an hour of engaging conversation, I left with three full pages of notes. Here’s what I learned:

1. Massive untapped demand Scotland’s BTR market has enormous potential simply because supply is so scarce.

2. Policy-driven uncertainty The Scottish Government’s rushed, under-consulted policies - rent caps chief among them - are undermining confidence. (I’ve spotted the same rush-job approach in the short-term lets sector.)

3. Need for long-term certainty Developers need a stable, long-range policy to commit capital. Short-term fixes only stall progress.

4. Contractor skills gap ahead Once the policy environment improves, we’ll face a shortage of quality contractors and subcontractors - many haven’t worked here for years and have simply moved on.

5. BTR is not student housing These serve different markets. Properly managed BTR can strengthen neighbourhoods and communities, rather than just churning tenants.

6. Look beyond Scotland Cities like Manchester and Leeds are already ahead. We should also study the Scandinavian rental model and New York’s adaptive reuse of old buildings. (I’ll be quizzing Bruce Patrick on both soon.)

On Thursday, I jumped on the train to Manchester to interview Tim Heatley , co-founder of Capital&Centric . Their approach to development and regeneration has impressed me for some time - but after weeks of trying through official channels with no luck, I resorted to what felt like an ambush at a Leeds panel chaired by Tim and Andy Burnham. He took it in stride, passed me to his PA, and here we are.

Talking with Tim was a revelation. His vision, values and business model are extraordinary. I’m determined to bring more of that Capital & Centric ethos up to Scotland.

I’m tired of visiting and judging developments that could - and should - have been so much better. C&C is the only developer I know that combines striking architecture, sympathetic restoration and genuine community creation. They build high-quality homes you actually want to live in, complete with thoughtful landscaping and shared spaces. I’m sure there are others out there, but I haven’t come across them - yet.

Capital & Centric proves you can deliver top-class homes, invest in landscaping and amenities - and still make a healthy profit. Achieving an excellent BREEAM rating is just the start; we can - and must - do more.

Watch for the full interview with Tim Heatley on our YouTube channel soon.