Much-needed high-quality rental homes close to Bath city centre
- Investment StrategyLower-cost housing, Property
- Date of Initial InvestmentDecember 2022
- Bridges ExecutivesAdam Amijee
Thesis
There is a pressing need for more lower-cost and affordable housing, with research indicating that England needs 340,000 new homes a year until 2031 to tackle the housing shortage, including 90,000 for social rent. This need is particularly acute in urban areas, where 68% of the world population will be living by 2050.
By investing in housing, Bridges is helping to tackle this fundamental shortage of supply, while also enabling local employment and positive regeneration of these areas. At the same time, we look to incorporate leading environmental and sustainable features into the construction and building design, to support the decarbonisation of the built environment.
Investment
Bridges and our partner HUB have acquired a prominent and vacant 4.5 acre brownfield site adjacent to Bath city centre, with plans to transform it into a high quality housing-led scheme.
The comprehensive redevelopment of the Bath site – part of the wider regeneration of the Bath Western Riverside enterprise area – will deliver a significant number of BTR and affordable homes, alongside commercial spaces and improved public realm. The development will respond to the growing unmet need for high-quality rental homes in Bath, a desirable and high-growth city.
The scheme will offer waterside living, adjacent to the River Avon and several other new developments. The site enjoys a prime location: it has two bridge connections to the city centre and is just an 8-minute walk from central Bath.
Outcomes
A major focus for the scheme will be minimising environmental impact with a highly efficient energy strategy targeting EPC A, onsite renewables, and full whole life-cycle carbon assessment throughout the development process.