Send us a Text

The share price of the biggest student accommodation provider fell 43% in 12 months - suggesting that confidence in the sector is starting to crack.

But in the same period, £4.3 billion was invested into UK Purpose-Built Student Accommodation.

So which number is telling the truth?

Anna Clare Harper, Director at residential investment manager Pinnacle Investments (part of Hyde, one of the UK's largest Housing Associations with 125,000 homes), and John German, Head of Living Sector Investment at $2tr global investment platform Invesco, break down:

• Why the old playbook for making money in student accommodation no longer works
• Where demand is actually going - the headline numbers hide a lot - and which university towns to avoid
• How core, core-plus and value-add investors should be positioning right now

PBSA has not broken. It has grown up. And the investors who understand the difference will be the ones who outperform the next cycle.

Guest LinkedIn: https://www.linkedin.com/in/john-german-2437573b/
Host LinkedIn: https://www.linkedin.com/in/annaclareharper/

Send us a Text

Build-to-Rent was meant to fix Britain’s housing crisis.

Then everything changed:

• Interest rates rose.
• Build costs jumped.
• New regulations hit.

And suddenly, the pipeline slowed.

That’s when Single-Family Housing stepped in.

In just 3 years, investment grew from £544M to £3.17B.

So what’s really happening here?

A long-term shift…
or investors chasing the next shiny trend?

If you’re investing in UK residential, you’re probably flooded with data.

What’s harder to find is clear thinking on what it actually means.

That’s what this episode is about.

Anna Clare Harper, Director at residential investment manager Pinnacle Investments (part of Hyde, one the UK’s largest Housing Associations with 125,000 homes) stand John German, Head of Living Sector Investment at $2tr global investment platform, Invesco, break down:

– What BTR and SFH really look like today
– Where the money is going (and why)
– How regulation is quietly reshaping the market

And most importantly:

Where to play, what to avoid, and what’s working right now.

If this is useful, share it with someone thinking about UK living sector investment.

And if there’s a topic you want us to cover next, send it through via the show notes.

Guest LinkedIn: https://www.linkedin.com/in/john-german-2437573b/

Host LinkedIn: https://www.linkedin.com/in/annaclareharper/

Send us a Text

The Return - Format Update

A quick note from Anna on what is changing and why.

After putting a question out to listeners on LinkedIn, a few clear themes came back - so we’re making changes.

From next month, The Return becomes a monthly, research-led series. Each episode will distill the key insights around a sector, strategy or market shift - anchored in reports and data from leading advisers - and unpacked in terms of what it actually means for investors.

Anna is also bringing on an experienced co-host: a real estate investor with 35 years in the sector.

The goal is more clarity, with lower lift.

Next episode: out next month.

Send us a Text

Most property developments run late, over budget, or both.
Not because developers are lazy.

Because they’re running projects without systems.
Anjuim Moied approached development differently.

Before property, he ran businesses.
So when he started developing sites, he treated them the same way:
With systems.

→ A clearly mapped critical path
→ Project management databases
→ Software tracking every pound spent in real time

Then he bought a derelict bingo hall in Woolston (Southampton).

It had:
→ Lapsed planning
→ Heritage constraints
→ Complex foundations

Many walked away (including the previous owner).

Anjuim turned it into 10 flats + a dance studio.

→ £310k purchase
→ £1.3m build
→ £2.3m asset

43% return.

On time. On budget.

In this episode he breaks down the systems he used to deliver this project - and three other ~£2m developments.

We’re also joined by Ben Mackett from Lloyds Banking Group, who finances developments every year and shares:

→ The warning signs lenders look for
→ Where developers’ forecasts usually go wrong
→ What separates developers who deliver from those who don’t

If you’re building housing, this episode will change how you run your projects.

This episode is in association with (and thanks to) Lloyds:
https://www.lloydsbank.com/business/industry-expertise/real-estate.html?utm_source=The+Return&utm_medium=podcast+partnership&utm_campaign=sponsored+episode

Guest LinkedIn: https://www.linkedin.com/in/ben-mackett-19709184/

Host LinkedIn: https://www.linkedin.com/in/annaclareharper/

Send us a Text

If you're a developer trying to get homes built right now, you're stuck between two impossible choices:

Pay what the landowner needs and lose money on the build. Or offer what the numbers say you can afford - and watch the deal die.

Traditional deals are stalling everywhere. Finance and build costs are too high, sales are too slow, and the gap between what a developer can afford to pay for land - and what the landowner will accept - has become a chasm.

But developers still want to build profitably, lenders and investors still want to back them, landowners still want to unlock value, and everyone agrees we desperately need more homes. Maybe the problem isn't a lack of motivation - it's that the traditional deal structure is outdated.

What if the answer isn't trying to find a motivated seller who can offer cheaper land, or waiting for rates to drop - but structuring the deal itself completely differently, and working with the right kind of investors?

In this episode, we're breaking down exactly how to do that, using a real case study of a deal that looked impossible on paper - a car park in Barnet owned by the Local Authority - but it got funded and is getting built anyway - with Sophie White, Regeneration Sector Head at Aviva Capital Partners, and James Scott, Co-founder and COO at Stories.

This episode is in association with (and thanks to) Lloyds:
https://www.lloydsbank.com/business/industry-expertise/real-estate.html?utm_source=The+Return&utm_medium=podcast+partnership&utm_campaign=sponsored+episode

Guest LinkedIn: https://www.linkedin.com/in/jmscott2/
https://www.linkedin.com/in/sophie-white-89378a30/

Host LinkedIn: https://www.linkedin.com/in/annaclareharper/

Send us a Text

I just interviewed a Former Housing Minister
And he didn’t hold back.

UK housing policy generates headlines daily.
For serious UK housing investors and developers, the challenge isn’t keeping up with announcements.
It’s knowing which policy signals genuinely matter over the next five to ten years.

Lord Gavin Barwell joined the podcast to cut through the noise around UK housing policy, including:

→ How planning reform is really playing out
And why sentiment and affordability matter just as much as policy

→ The delivery gap: why policy failure is often local
And how investors and developers can influence outcomes in practice

→ Why mainstream housing headlines rarely help investors
And how to filter signal from political froth.

If you’re investing in, underwriting or developing UK housing with a long-term horizon - and want to stay ahead of political noise - this episode is worth your time.

This episode is in association with (and thanks to) Lloyds.

https://www.lloydsbank.com/business/industry-expertise/real-estate.html?utm_source=The+Return&utm_medium=podcast+partnership&utm_campaign=sponsored+episode

Guest LinkedIn: https://www.linkedin.com/in/gavinbarwell/

Host LinkedIn: https://www.linkedin.com/in/annaclareharper/

Send us a Text

I had to be on my best behaviour for this - interviewing my boss.
Andy Hulme is CEO of The Hyde Group
One of the largest UK Housing Associations
With 125,000 homes
(Also my employer)

He’s also a former Group MD at Lloyds
Where he helped launch Help to Buy.

No pressure, then.

We covered:
- What public-private housing partnerships actually are
- Why housing partnerships fail - despite the best intentions
- The 3 biggest mistakes (and how to avoid them)
- Why “if you're reading the contract, you’re already in trouble.”

If you're a developer, investor, housing provider or local authority trying to deliver more homes through partnerships, this episode is a must-listen.

This episode is in association with (and thanks to) Lloyds.

https://www.lloydsbank.com/business/industry-expertise/real-estate.html?utm_source=The+Return&utm_medium=podcast+partnership&utm_campaign=sponsored+episode

Guest LinkedIn: https://www.linkedin.com/in/andy-hulme-b9830a23/

Host LinkedIn: https://www.linkedin.com/in/annaclareharper/

Send us a Text

Even if the land was free, many property deals don’t stack.
Zombie pricing. Rising costs. More regulations.

I asked Nicola Haigh, Head of Real Estate & Housing, Lloyds.
Who’s served 10,000+ real estate borrowers.

How can developers survive and thrive in the 2020s?

She shared 5 things bankable developers Lloyds work with do, including:

1. Keep a cash buffer
→ Don’t borrow the max.

2. Track cash flow weekly
→ Avoid nasty surprises.

3. Plan multiple exits
→ Sell some, hold some.

Listen in to hear what banks really want to see from developers right now.

This episode is in association with (and thanks to) Lloyds.

In association with:
https://www.lloydsbank.com/business/industry-expertise/real-estate.html?utm_source=The+Return&utm_medium=podcast+partnership&utm_campaign=sponsored+episode

Guest LinkedIn: https://www.linkedin.com/in/nicola-haigh-55941a56/

Host LinkedIn: https://www.linkedin.com/in/annaclareharper/