Build To Rent / PRS Schemes

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Build To Rent / PRS Schemes

Build To Rent (BTR) / PRS Schemes have become an emerging sector in the Irish residential property market. Essentially they are purpose-built residential apartment block developments with associated amenities, examples of which are; 

  • Concierge, often with office facilities
  • Laundry Collection / Delivery Service
  • Lounge area to include communal gathering areas, relaxing areas and also private bookings for residents
  • Gymnasium for residents use / Kids Playground
  • Break-out Areas to include remote working / meeting pods / homework pods etc.

These Build to Rent properties are owned, managed and serviced by an institutional landlord / investor with some of the main functions outsourced to local managing agents, letting agents and maintenance companies. Unlike traditional housing schemes, individual residential units within the development are not sold off separately for private ownership or for individual sub-lettings. 

 

Concierge Build To Rent

 

BTR is typically the provision of a long-term rental investment strategy by one single entity, however where provision for social and affordable housing exists in the planning, a social housing entity may purchase a proportion of the units, often c.10% of residential apartment units for the provision of accommodation.

Build to Rent has become a viable, stable and attractive option not only for Irish and Worldwide based investors, developers and funders alike but also for a convenience driven younger population who value flexibility and the lifestyle on offer in these extremely well built and apportioned multi-amenity properties.

These developments will assist in delivering some of the housing numbers Ireland needs to address during this era of severe housing supply shortage.  More and more of these developments are coming on stream as the model proves its attractiveness.

With the experience of many such BTR developments under its belt to date, S.A. Faughnan (Brokers) Ltd. has positioned itself to be a leading expert in Build to Rent insurance programmes – from construction stage on behalf of the developer/builder, to phased handover to the OMC including all sale closure stages, and thereafter representing the new institutional landlord owner with highly competitive property & liability insurance rates.

Build To Rent

S.A. Faughnan (Brokers) Ltd. as leaders in this emerging area, will liaise with the developer/builder and their financier(s), the OMC entity, and the ultimate Purchaser/Landlord and their financier(s) to achieve a seamless transition from green/brown-field site to functioning BTR apartment block. A considered programme of insurance coverage will be put in place to satisfy lenders and provide the Purchaser / OMC with the required risk management and transfer of risk mechanisms via A-Rated Financially Secure Insurers. We can also enter at the property stage when the building has been handed over to the OMC on sale completion to the purchaser.

We will tailor a solution that will meet the needs and requirements of project financiers and legals from the outset whilst at the same time providing the insured with ultimate cover protection. Much time can be lost debating trivia, so our focus is channelled towards providing workable solutions with Insurers and Insured’s alike, to satisfy the respective interests of all parties and progress to contract signing and project commencement at the earliest possible opportunity. We will facilitate all requests, where possible.

EXAMPLES of BTR schemes where we have been / are currently involved;

  • Neptune Block (205 Apts) – Honeypark, Dun Laoghaire
  • Leona Block (160 Apts) – Honeypark, Dun Laoghaire
  • Charlotte Block (159 Apts) – Honeypark, Dun Laoghaire
  • Bridgefield / Pappan Grove (251 Apts) – Northwood, Santry
  • Fairway Hall / Fairway Court (214 Apts) – Cualanor, Dun Laoghaire
  • Cheevers Court (186 Apts) – Cualanor, Dun Laoghaire
  • Haliday House (182 Apts) – Cualanor, Dun Laoghaire
  • Blackwood Square (329 Apts) – Northwood, Santry (CGI image below)
  • Bay Meadows (112 Houses) – Hollystown, Dublin 15
  • Castleview Phase 1 (144 Apts) – Naas Road, Dublin 12
  • Castleview Phase 2 (249 Apts) – Naas Road, Dublin 12

Click here to find out “Why You should insure to the correct Re-Build Value”

Build To Rent

References can be sought from;

David Lawlor – Director – Hooke & McDonald

E: davidl@hookeandmcdonald.ie M: 086 821 9848

 

Enquiries can be made to;

David Faughnan CIP – Director – S.A. Faughnan (Brokers) Ltd.

E: david.faughnan@safaughnan.ie

M: 086 2111489 P: 01 824 5555

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What Our Clients Are Saying

"Cosgrave Developments / Cosgrave Property Group & Associated Entities has had a long standing business relationship with S.A. Faughnan (Brokers) Ltd. for over 35 years now which originated at the very commencement of our existence as a builder and property developer. This relationship has flourished in that period due to the consistently professional and organised approach by the directors & staff at S.A. Faughnan in taking care of our insurance requirements in both times of sustained growth and also throughout recessionary periods, and a pandemic. S.A. Faughnan have the technical knowledge, expertise and wherewithal to ensure that we are extensively protected in every aspect of our business, with reliable financially strong A-Rated Insurers, from pure construction risks cover to ownership of extensive land banks to large portfolio property ownership, professional indemnity, directors & officers liability, cyber & crime insurance, motor fleet, household cover, rental buy to lets and every other aspect of our existence as a prominent property developer & investor. It is with pleasure that we can recommend S.A. Faughnan (Brokers) Ltd. to any prospective client, be they construction, property or professional related. “You will be in the hands of experts!”... Read more...."
Michael Cosgrave
Co-Founder Cosgrave Developments Cosgrave Property Developments
January 2025

"We use S.A. Faughnan (Brokers) Ltd. for a number of retail outlets and office developments we actively manage across Dublin. They are a professional outfit who are dedicated to providing excellent insurance coverage at competitive pricing year on year, ongoing claims management and general broking services. Read more..... "
Niall Curley MSCSI, MIPFMA
Property Management Division Savills Ireland
July 2021

"SA Faughnan has the experience and knowledge required to take the insurances from developer / builder construction stage, through the various block completion phases, to the subsequent investor purchase, and onwards as a functioning OMC block thereafter. Their attention to detail in the management of developer, purchaser and both financiers’ demands together with the insurer and managing agent relationships, is second to none. Read more..."
David Lawlor
Director Hooke & MacDonald
July 2021

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