28 April 21

QSIX LAUNCHES NEW HOUSING BUSINESS, REZIDE, TO INCREASE THE SUPPLY AND ACCESS TO QUALITY, FAMILY HOMES

Working in partnership with home builders, institutional investors and other stakeholders to deliver socially responsible, new housing in a rental and an affordable home ownership format

QSix, a specialist real estate asset manager, has today launched Rezide, a new housing business for families across the country.

Rezide is seeking to develop a wide range of quality new-build family homes available both for rent and Shared Ownership, giving more customers the chance to realise their aspiration of buying their own home.

Rezide is committed to developing 2, 3 and 4 bedroom properties, working in partnership with quality home builders, institutional investors and other key housing stakeholders to increase the supply of quality, affordable homes across England.

Its rented properties will be available on a range of tenancies designed to offer choice, value for money, security and flexibility to the families that live in them. Rezide hopes that its renting customers will also have the ability to buy a share of the home they live in at some point, should they choose to do so.

With the current Help To Buy scheme winding down and fresh doubts over the new replacement scheme, home buyers who would not otherwise be able to afford to buy a new home, will be able to do so with Rezide. This will give customers the opportunity to buy a share of their family home, with lower mortgage borrowing requirements and lower rent (for the portion not owned) than in the traditional private rented sector. These homes will come with 999 year Shared Ownership leases and full new home warranties. Over time, customers will be able to increase their share in their home, up to 100 per cent.

Rezide is led by Nick McAlpine-Lee, formerly CEO and Co-Founder of one of the UK’s largest Shared Ownership providers, where he oversaw the creation of over 5,000 Shared Ownership homes in more than 200 Local Authority areas within the first five years of operation.

Nick will be joined on the board by Neil Fitzsimmons, who will serve as Non-Executive Chair, and currently acts as a Non-Executive Director at The Home Builders Federation. Neil previously spent nearly five years as CEO of Avant Homes, following 12 years at Redrow where he served as CEO for four years.

Lynn Gilbert will also join the board as Non-Executive Vice-Chair. She is also a Non-Executive Director at Hyde Housing Association. Lynn brings over 30 years of real estate experience and has headed up many successful financing teams at leading institutions such as M&G, Barclays Capital and Morgan Stanley.

Nick McAlpine-Lee, CEO of Rezide, commented:

“Our mission is simple: to boost the supply of quality new build family homes in England and to help make the aspiration of home ownership a reality for more people.

“All across the country, there are hard working households who want affordable, quality houses in the places where they want to live. Rezide will create greater opportunities with improved ways to rent a home and bring homebuyers into the housing market by giving more people the opportunity to buy a share of their home. In doing so, we will develop new additional housing in partnership with high quality home builders, helping to accelerate the delivery of the houses we need for the future.”

Mike Hilton, CEO of QSix, added:

We are excited to launch Rezide as part of QSix’s continued growth and focus on socially responsible opportunities. Bringing forward much needed new family homes in both rented and affordable home ownership formats offers attractive risk-adjusted returns for institutional investors at a time of great interest in the residential asset class.”