Invesco and Hopkins sign £40.6m Essex PRS deal

Invesco Real Estate has signed a £40.6m deal with Hopkins Homes – the first private rental sector agreement for the housebuilder, and the first for Invesco in the UK. The PRS deal at Beaulieu in Chelmsford will see the development of 99 build-to-rent homes for Invesco. These will form part of the wider Beaulieu development, where Hopkins is building a total of 246 homes, with 67 designated as affordable housing. The development, which is 30 miles from London, is due to launch in January 2025. Duncan Jackson, managing director of Hopkins Homes, part of the Untypical Group, said: “This deal is an important milestone for Hopkins Homes as it sees us successfully diversifying our approach to new developments. “With PRS continuing to expand in response to affordability challenges in the housing market, this agreement reinforces our commitment to addressing evolving housing needs while also strengthening our market position in the region.” Rebecca Trueman, associate director at Savills Operational Capital Markets, which advised Hopkins on the deal, said: “This transaction reflects the continued attractiveness of the single-family housing sector, marking both Hopkins Homes and Invesco Real Estate’s debut into the space on an award-winning masterplan, while addressing the UK’s housing gap with high quality and sustainable homes.” Knight Frank advised Invesco. See data on properties, land and ownership in Chelmsford >>