Picture Living – the flagship private rental sector strategy asset managed by Thriving Investments - has landed it’s third deal of 2025 and committed to deploy a further £36 million to deliver more high-quality homes.
The latest transaction means that Picture Living has committed capital to deliver over 120 new homes in 2025 alone. Picture Living now holds a portfolio of close to 2,000 homes nationwide, including those under development.
Jamie Younger Chief Investment Officer and Fund Director commented:
“Access to private rental homes is instrumental in supporting a fully functioning housing market. As more private landlords leave the sector, long-term, stable investment provides developers the confidence to build out this tenure, and gives families the stability they need to put down roots in the communities they want to live in.
“Securing our third deal of 2025 is a significant milestone and demonstrates the strength our Picture Living strategy. It also includes a third forward funding transaction with our development partner, Vistry, and enables us to continue to bring affordable private rental homes to people across the country.”
The strategy focuses on investing in areas of high rental shortage, supporting people to continue to live in their own region. It is backed by Thriving Investments own research with PriceHubble, which identifies a critical shortage of rental properties across the UK.
The latest deal, in partnership with Vistry, will see 41 new homes for private rent at their Rectory Farm development in Grantham. The homes, a mix of 2-, and 3-bedroom homes, are built to Vistry’s high standards. Each home features spacious rooms, off-street parking and modern energy-efficient specifications. All homes are rated EPC B, include EV chargers, and where possible, are installed with solar panels to promote renewable energy use.
Despite rental demand softening, it still continues to outstrip supply across the UK, and Grantham is no different. The town continues to see rents rise, driven by a shortage of available properties and longer tenancies.
Jamie continued: “Our ambition for the rest of the year is to continue deploying capital into sites across the UK. Picture Living is backed by long-term, responsible, institutional capital. We use equity — not debt — to finance property purchases. We want to continue to support developers to meet their targets on time and on budget and address this housing shortage at the pace it demands.”
This third deal comes off the back of Thriving Investments announcement in May, which saw investment in Places for People and Urban Splash’s Port Loop development in central Birmingham to deliver 43 new homes, and Miller Homes’ Bishops Walk development in Durham to bring forward 40 new homes.
Thriving Investments now manage investment assets worth over £1.1bn and are on track to deliver over 20,000 homes by 2034.
To date, they have partnered with six Local Government Pension Schemes and five institutional investors delivering growth in an increasingly challenging market. As the first fund manager established by a regulated housing provider, Thriving Investments have a deep understanding of the market and local housing needs. By bringing institutional investment into the sector, Thriving Investments is playing a pivotal role in solving the UK’s housing shortage.