Legal & General is creating over 170 new Build to Rent (BTR) homes in Bath having acquired a city centre development site for £47.5m.

The Roseberry Place development is ideally located on brownfield land in the Bath City Riverside Enterprise Area on the river and will comprise 171 apartments, 126 car parking spaces and 17,000 sq ft of retail space.

Dan Batterton, BTR Fund Manager at LGIM Real Assets, said:  "This acquisition is a prime example of the type of compelling opportunities there are in the market at the moment, as we continue to build our pipeline. We are targeting well-located sites where there is the opportunity to influence all aspects of design and construction from the start to create a best-in-class product that will provide a positive lifestyle choice for elective renters. We remain on track to deliver on the growth plans for our major Build to Rent platform focused on holding assets for the long-term on behalf of investors."

The site already benefits from outline planning permission and Legal & General  intend to work closely with the developer to provide high-quality rental accommodation within a City in much need of additional housing supply.