Is the Future of Housing Rental? With Michael Keaveney from Grainger PLC
02/24/25 • 35 min
Is renting the future of housing in the UK? In this episode of Urban Forecast, we sit down with Michael Keaveney, Director of Land and Development at Grainger PLC, to explore the evolution of Build to Rent (BTR) and its impact on the housing market. From navigating planning challenges to the sustainability debate, Michael shares his insights on where the sector is heading, the role of investors, and whether BTR can truly help solve the UK’s housing crisis.
We also discuss the 'Goldilocks zone' for BTR viability, why placemaking is critical to long-term success, and the policy changes that could make or break the industry’s growth. Whether you're an investor, developer, or simply interested in the future of housing, this episode is packed with valuable insights.
Key Takeaways:
Build to Rent is here to stay – BTR has grown significantly in recent years, but challenges remain in scaling it to meet demand.
The ‘Goldilocks’ principle – BTR only works in locations where land costs and rental income align, making it viable in some areas but not others.
Sustainability is a renter’s concern—up to a point – Operational energy costs matter, but embodied carbon remains low on the priority list for tenants.
The importance of placemaking – BTR developments thrive when they integrate well with their surroundings and contribute to local communities.
Policy and investment are crucial – Government subsidies, planning reform, and investor confidence all shape the future of the sector.
COVID-19 accelerated the rise of BTR – Lockdowns highlighted the importance of quality rental housing with strong amenities.
Tenant expectations are evolving – More renters are considering EPC ratings and total cost of living when choosing a home.
Subsidy is essential for affordable housing – Without increased government support, BTR alone won’t solve the UK’s housing crisis.
Best Moments (Quotes):
“COVID-19 really proved the value of Build to Rent – people started to understand why quality rental housing matters.”
“If you get placemaking wrong, your development won’t work – it has to feel like part of the community, not just a block of flats.”
“The reality is, you can’t have subsidised housing without subsidy – social rent needs serious government support.”
“There’s a ‘Goldilocks’ zone for Build to Rent – too expensive, and it doesn’t stack up. Too cheap, and it won’t get built.”
VALUABLE RESOURCES
EPISODES TO CHECK OUT NEXT
Modernise or Die: the hard truths about MMC and housing delivery
How ESG can make you money and help the planet with Andy Cox
ABOUT THE HOSTS
Jon Ackroyd and Oliver Lowrie, the visionary hosts of Urban Forecast, bring their expertise from leading their innovative practice, Ackroyd Lowrie. Known for pushing the boundaries in urban design, Jon and Oliver use their podcast to delve into the future of cities, sharing insights from their work on projects that emphasise sustainability, community, and transformative architecture. Through Urban Forecast, they engage listeners with discussions on how architecture and design shape urban living, aiming to inspire new ways of thinking about the spaces around us.
CONNECT & CONTACT
Email: [email protected]
Is renting the future of housing in the UK? In this episode of Urban Forecast, we sit down with Michael Keaveney, Director of Land and Development at Grainger PLC, to explore the evolution of Build to Rent (BTR) and its impact on the housing market. From navigating planning challenges to the sustainability debate, Michael shares his insights on where the sector is heading, the role of investors, and whether BTR can truly help solve the UK’s housing crisis.
We also discuss the 'Goldilocks zone' for BTR viability, why placemaking is critical to long-term success, and the policy changes that could make or break the industry’s growth. Whether you're an investor, developer, or simply interested in the future of housing, this episode is packed with valuable insights.
Key Takeaways:
Build to Rent is here to stay – BTR has grown significantly in recent years, but challenges remain in scaling it to meet demand.
The ‘Goldilocks’ principle – BTR only works in locations where land costs and rental income align, making it viable in some areas but not others.
Sustainability is a renter’s concern—up to a point – Operational energy costs matter, but embodied carbon remains low on the priority list for tenants.
The importance of placemaking – BTR developments thrive when they integrate well with their surroundings and contribute to local communities.
Policy and investment are crucial – Government subsidies, planning reform, and investor confidence all shape the future of the sector.
COVID-19 accelerated the rise of BTR – Lockdowns highlighted the importance of quality rental housing with strong amenities.
Tenant expectations are evolving – More renters are considering EPC ratings and total cost of living when choosing a home.
Subsidy is essential for affordable housing – Without increased government support, BTR alone won’t solve the UK’s housing crisis.
Best Moments (Quotes):
“COVID-19 really proved the value of Build to Rent – people started to understand why quality rental housing matters.”
“If you get placemaking wrong, your development won’t work – it has to feel like part of the community, not just a block of flats.”
“The reality is, you can’t have subsidised housing without subsidy – social rent needs serious government support.”
“There’s a ‘Goldilocks’ zone for Build to Rent – too expensive, and it doesn’t stack up. Too cheap, and it won’t get built.”
VALUABLE RESOURCES
EPISODES TO CHECK OUT NEXT
Modernise or Die: the hard truths about MMC and housing delivery
How ESG can make you money and help the planet with Andy Cox
ABOUT THE HOSTS
Jon Ackroyd and Oliver Lowrie, the visionary hosts of Urban Forecast, bring their expertise from leading their innovative practice, Ackroyd Lowrie. Known for pushing the boundaries in urban design, Jon and Oliver use their podcast to delve into the future of cities, sharing insights from their work on projects that emphasise sustainability, community, and transformative architecture. Through Urban Forecast, they engage listeners with discussions on how architecture and design shape urban living, aiming to inspire new ways of thinking about the spaces around us.
CONNECT & CONTACT
Email: [email protected]
Previous Episode
How ESG can make you money and help the planet with Andy Cox
In this episode of Urban Forecast, we sit down with Andy Cox, Director & Co-founder of Trigon, to discuss the evolving landscape of development management, ESG, and the Building Safety Act. Andy shares his journey into real estate, the challenges of navigating increasing regulation, and why sustainability must be more than a compliance exercise.
With discussions around risk management, stranded assets, and the impact of regulation on development, this episode is a must-listen for anyone in the property, construction, or investment sectors.
Are we drowning in legislation, or can we carve out a clearer path forward? Tune in to find out.
Key Takeaways:
From karaoke to construction – Andy’s unconventional route into real estate and why people, not just projects, fuel his passion.
The real impact of ESG – Why sustainability isn’t just a ‘nice-to-have’ but essential for asset resilience.
Regulation overload? – The tension between economic growth and increasing legal constraints in the UK property market.
The risk of stranded assets – How developers are adapting to maintain asset value amid rising ESG expectations.
Building Safety Act realities – What’s working, what’s not, and why clarity is key for the industry.
Procurement evolution – Are we heading towards a new hybrid model of development and construction management?
A housing market in limbo – Can planning reform, increased housing targets, and viability challenges ever align?
What’s next? – Predictions for 2025 and beyond—will we see real progress, or are we in for another year of uncertainty?
Best Moments (Quotes):
“Sustainability shouldn’t be a bolt-on. It needs to be woven into everything we do.” – Andy Cox
“We’ve got the accelerator on and the brake on at the same time. No wonder the industry is stalling.” – Oli
“The Building Safety Act has changed the definition of compliance - it’s no longer about ticking a box.” – Andy Cox
“If we want certainty in the market, we need to distill regulation - not just keep adding more.” – Jon
VALUABLE RESOURCES
Ackroyd Lowrie - https://www.ackroydlowrie.com/
Trigon - https://trigon-dm.com/about/
EPISODES TO CHECK OUT NEXT
The Architect who entered politics - https://www.youtube.com/watch?v=LmrNRTM5HKk
Modernise or Die: the hard truths about MMC and housing delivery - https://www.youtube.com/watch?v=lW4N6hDk5i4
ABOUT THE HOSTS
Jon Ackroyd and Oliver Lowrie, the visionary hosts of Urban Forecast, bring their expertise from leading their innovative practice, Ackroyd Lowrie. Known for pushing the boundaries in urban design, Jon and Oliver use their podcast to delve into the future of cities, sharing insights from their work on projects that emphasise sustainability, community, and transformative architecture. Through Urban Forecast, they engage listeners with discussions on how architecture and design shape urban living, aiming to inspire new ways of thinking about the spaces around us.
CONNECT & CONTACT
Instagram - https://www.instagram.com/ackroydlowrie/reel/CpcSrjlDreV/
LinkedIn - https://www.linkedin.com/company/urban-forecast-podcast
Email: [email protected]
Next Episode
How RIBA should spend £85 million on the Architect industry
RIBA is set to spend £85 million on refurbishing its London HQ - but could that money be better spent elsewhere? In this episode of Urban Forecast, we debate how those funds could be used to truly benefit the architectural profession. From AI’s impact on design to the need for research and development, we explore where investment could drive real industry change - rather than becoming a prestige project. Join us for an insightful discussion on how to build a better future for architects and the cities they shape.
Key Takeaways:
AI in Architecture – While AI presents opportunities, it also threatens to erode the traditional role of architects.
RIBA’s Responsibility – The £85 million should be invested in initiatives that truly benefit architects rather than prestige projects.
Incubation Spaces – Creating research and development hubs could drive innovation but would need to be commercially viable.
Material Testing Facilities – Allocating funds to test new materials could help improve sustainability and safety in architecture.
Supporting Young Architects – Financial backing for emerging talent and start-ups would strengthen the profession’s future.
Industry Collaboration – A portion of the funds should go towards fostering stronger connections between architects, developers, and policymakers.
Making Cities Better – Any investment should ultimately contribute to improving the built environment, aligning with RIBA’s core mission.
The Grenfell Impact – The tragedy reshaped building regulations, yet timber, an inherently sustainable material, was banned while other riskier materials remained in use.
Best Moments (Quotes):
“What I don’t think it should be is a vanity project for RIBA. It needs to actually make a difference in building better cities.”
“AI has the potential to reshape the profession, but could it also diminish the role of the architect?”
“Grenfell was a concrete-frame building wrapped in plastic and metal, yet timber got banned. Where’s the logic in that?”
“£85 million sounds like a lot, but when you break it down, it barely scratches the surface of what’s needed.”
VALUABLE RESOURCES
Riba £85m Proposal - https://www.architecture.com/knowledge-and-resources/knowledge-landing-page/riba-house-of-architecture-investment-plans-revealed#:~:text=The%20%C2%A385%20million%20proposal,more%20widely%20than%20ever%20before
Ackroyd Lowrie - https://www.ackroydlowrie.com/
EPISODES TO CHECK OUT NEXT
How ESG can make you money and help the planet with Andy Cox - https://www.youtube.com/watch?v=TqQWYGnAuYQ
Is the Future of Housing Rental? With Michael Keaveney from Grainger PLC - https://www.youtube.com/watch?v=2KUCVQHJ0Hg
ABOUT THE HOSTS
Jon Ackroyd and Oliver Lowrie, the visionary hosts of Urban Forecast, bring their expertise from leading their innovative practice, Ackroyd Lowrie. Known for pushing the boundaries in urban design, Jon and Oliver use their podcast to delve into the future of cities, sharing insights from their work on projects that emphasise sustainability, community, and transformative architecture. Through Urban Forecast, they engage listeners with discussions on how architecture and design shape urban living, aiming to inspire new ways of thinking about the spaces around us.
CONNECT & CONTACT
Instagram - https://www.instagram.com/ackroydlowrie/
LinkedIn - https://www.linkedin.com/company/ackroyd-lowrie/
Email: [email protected]
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