Reports say the venture is based on the US model of large scale multi-family rented housing and will pre-order purpose-built residential blocks of 100 units or more in the south-east to rent out.
The vehicle, due for launch next month is expected to roll out to investors outside Aviva’s client base, according to reports.
Aviva Investors UK specialist property funds Andrew Appleyard told the Financial Times: “We are looking to do something here that has not been done before. WE feel the economics are right given where the market is heading. There is appetite for renting that hasn’t been there before.”