United Trust Bank (UTB) has appointed Andy Thomson to the role of senior director to develop the lender’s build to rent proposition and explore opportunities in the student accommodation and co-living markets.
Thomson (pictured), whose full title will be senior director of operational real estate, has worked on a number of significant loans within the UK living sector since 2016. He joins UTB from Bank of London and Middle East, where he was the head of real estate finance and private banking.
He has over 30 years of banking experience, gained from senior roles with a variety of lenders including RBS, Bank of Scotland and Secure Trust Bank. He also has experience in the real estate debt advisory sector from his time at Avison Young, formerly GVA.
He will initially focus on delivering loans to developers and investors operating in the build to rent sector, before exploring opportunities in adjacent markets including purpose-built student accommodation (PBSA) and co-living.
Opportunities for build to rent in 2025
During a briefing session held by Moody’s earlier this month, the ratings firm said buy-to-let (BTL) landlords leaving the market could pave the way for build to rent investment, adding that the build to rent sector was more efficient in terms of management and profit margins.
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There are approximately 50,000 build to rent homes currently being built in the UK, according to real estate agent CBRE’s 2025 outlook. These completions would take the total stock of build to rent homes to 170,000. However, the agent says this does not plug the gap left by private landlords leaving the sector.
According to CBRE, the improving economy and stable political backdrop is expected to boost build to rent investor appetite in 2025.
Thomson said: “The UK living sector is an attractive real estate asset class for domestic and international capital seeking high-quality investment and development opportunities. 2024 saw more than £5bn invested into the UK build to rent sector and the UK government’s goal to deliver 1.5 [million] homes over the next five years is an important catalyst for further growth.
“Multi-family build to rent apartment developments in London and the key regional cities have been the initial focus for the market and it’s exciting to see this expanding into other smaller UK towns and cities, as well as the increasing focus on single-family build to rent developments.
“UTB is keen to consider all types of schemes proposed by experienced operators.”
