New property venture looks to unlock Scotland’s ‘constrained’ housing market

JLA Living brings together Justin Lamb Associates’ established land, development and housebuilder expertise with Dowbrae founder Robin Blacklock’s experience in residential rental investment, housing policy and public-sector engagement.

Alongside Scotland’s established housebuilding market, the new venture is looking to boost the level of institutional investment in the country’s rental sector.

The business will principally focus on the residential rental sector, including urban build-to-rent projects, family homes for rent, affordable and intermediate housing. It aims to work with investors, housebuilders, landowners, housing organisations and public bodies to bring together the investment, partnerships and support capable of increasing supply.

JLA Living will operate alongside Justin Lamb Associates and will be led by Blacklock as managing director, with support from JLA founder Justin Lamb and the wider team.

Blacklock said: “Scotland needs more homes more quickly, but delivery is being constrained by economic uncertainty, development viability and a disconnect between public and private sectors.

“There are investors with money. There are housebuilders with pipeline sites. And there are local authorities and public bodies under enormous pressure to increase housing supply. Underpinning it all is the need for more homes.

“JLA Living has been created to bring those interests together and find practical ways of realising those opportunities.”

Justin Lamb Associates advises on the delivery of around 2,000 residential plots each year and has been at the forefront of the Scottish residential land market since 2009.

Justin Lamb said: “We have strong relationships throughout Scotland’s housebuilding and land markets, and there are evolving opportunities where a different source of investment or a different approach could assist and accelerate delivery.

“By combining that knowledge with Robin’s investment and public-sector experience, we can offer a much broader service and help make connections.”

Blacklock added: “There is rarely one simple answer. Progress often depends on understanding what investors, developers and the public sector each need. Our approach is to align those interests with a common goal of tackling Scotland’s housing emergency.

“Our purpose is simple: we want to help deliver more homes more quickly for Scotland by connecting investment with opportunity and by bridging the public and private sectors.”

Earlier this month, it emerged that a Singapore-based funding partnership had been agreed to help tackle Scotland’s housing shortage.

Ediston, the Edinburgh-based investment and development business behind the initiative, said the aim was to accelerate house building and deliver quality homes for private rental in Scotland and the wider UK.

The partnership with Singapore-based 42 Capital Partners will create a new route for investment from Singapore and south-east Asia into UK housing. It aims to bring international funding together with the UK investment partners, local authorities and public-sector organisations that Ediston is already engaging with.

The partnership has an immediate goal to raise in the region of £150 million to £200m to deliver new homes, initially in Scotland. Ediston’s longer-term ambition is to attract £1 billion to £2bn of investment into its Living platform over the next five to seven years, which could provide as many as 8,000 new homes throughout the UK.