As the name suggests, Build to Rent developments are built primarily for rental purposes, i.e., BTR developments are designed to suit tenant needs. According to HomeViews 2021 report, Residents rated “design” second only to “location” in their choice BTR developments.
This makes design integral to the growth of any BTR development. So, BTR developers, architects and interior designers must focus on making the scheme’s overall design as tenant-oriented as possible.
In this article, we examine the design elements developers focus on to optimise their development to generate the best results, based on the design features BTR residents favour the most.
BtR Building Types
Whilst ideally all BtR buildings would be purpose-built to maximize design possibilities. We know developers don’t always have the option of building from the ground up in preferred locations every time.
There are two further distinct types of design aside from purpose-build. Repurposed builds, originally for sale & now used for rent. As well as those converted from office buildings. These types of BtR buildings have varying impressions on the residents in terms of designs.
Purpose-Built vs Repurposed vs Converted BtR Developments
Design
Of the three types of BtR, residents have a preference for tailor-made developments. Residents have rated seven purpose-built buildings among the top 10 developments rated for designs, with three repurposed buildings and one converted office buildings.
The same report showed that across all the buildings reviewed, purpose-built schemes scored over 5 points, an average of 4.42 points, while the repurposed and converted buildings scored 4.34 and 4.26 points, respectively. The preference for purpose-built developments is evident from the resident ratings.
Facilities
In terms of facilities, residents also rated purpose-built developments higher. As you’d expected with developers having a free hand incorporating more facilities and communal spaces. As opposed to other types that have to integrate into the buildings existing structure – which can be very limiting.
In the HomeViews report, purpose-built BtR schemes had an average facility score of 4.45, while the repurposed scored 4.22, and converted schemes scored 4.02.
New Build
Irrespective of the building type, residents from their reviews on HomeView seem to value living in a new build. A resident at Essential Living’s Union Wharf development said
“Union Wharf is a fantastic new build. It provides a modern yet functional living space.”
What Are the Opportunities when Converting an office?
Although converted developments scored lower on average when compared to the other types of design, it doesn’t mean all conversions do not perform well. Successful office-to-residence BtR schemes can be achieved, and despite the obvious drawbacks, this type of building has its perks.
In 2019, Essential had two converted buildings among the top 10 design list. Currently, Essential Living’s Vantage Point is rated among the top 10 for design.
Converted office buildings often offer residents amazing views and a wide rooftop area. Residents of Vantage Point tower had this to say about the design:
“Vantage Point tower is a beautifully-designed building with a fantastic social space and an incredible view over London.”
“Every time I come home, I feel like I am going back to a hotel that I live in.”
Other Design Features
Tall Buildings
The height of a development is another design feature that contributes to it’s performance. HomeViews, New London Architecture and Knight Frank on London Tall Buildings, used a data sample of 8,000 verified resident reviews across 642 residential development in London.
The data showed that tall buildings are linked with higher ratings. Tall, in this case, is defined as buildings above 20 storeys.
3 of the top 10 rated BtR schemes for design were over 20 storeys.
Furnishing
When it comes to interior design and furnishing, residents favour fixtures and fittings that are stylish, practical and space-efficient. 10 George Streets has earned many accolades from its residents on the modern and tastefully furnished interiors and appliances.
Importantly, the need for good soundproofing is a fundamental design feature to be considered by developers. As the lack of it was often mentioned by lower-ranking developments.
Work from Home Spaces
With the radical changes that came with the Covid-19 Pandemic, home-working spaces are more valued by residents. Communal areas within the BtR that are suited for workspaces give residents the option to work outside their private apartments. Several residents find this feature in BtR developments very inviting.
Space and Storage
Spacious apartments are something residents place extra value on when choosing where to live. Spacious apartments are also a common denominator among the top-rated developments, with cleverly designed apartments that help maximise space. This also extends to storage spaces such as parcel storage and the likes.
First Impression
The exterior design and uniqueness of the architecture is a key design feature that creates a great first impression on potential tenants, residents and their guests.
Conclusion
The impact of design on performance is very significant. This is why BtR developers should make judicious use of the data available on residents’ preferences in terms of design to optimize the growth and performance of their schemes.
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