黑料专区

听Day 1: 4 February 2026

By Chloe听Sachikonye, Senior Account Executive at Yardi and Chair of the ARL听North West听Hub听听听听听

On an unsurprisingly rainy day in Edinburgh, with the wind whipping down Haymarket Terrace and rain bouncing theatrically off a mash-up of Georgian sandstone and sharp-edged new build, I made my way to Shoosmiths鈥� newest offices. Inside, the mood was less drizzle, more drive.听

Under one roof sat the modern British real estate ecosystem in a microcosm of investors, operators,听advisers听and suppliers.听Amidst the caffeine-fuelled and legislation-literate conversation, the occasion? The ARL Scotland Study Tour听2026, returning to Edinburgh and Glasgow with a sharpened focus on investment in Build to Rent (BTR). Sponsored by Yardi,听Torsion听and Shoosmiths, the听two-day听tour combined operational site visits with something far rarer听–听direct dialogue with policymakers shaping the market.听

This was my second听ARL听Scotland听Study Tour, and while I听won鈥檛听disclose听quite how many ARL听Study听Tours听I鈥檝e听attended over the years (let鈥檚听just say听I鈥檓听comfortably into double digits), the format听remains听unmatched. Equal parts field trip and forensic analysis, the backdrop to this year鈥檚 tour was legislative certainty. With the Housing (Scotland) Act passing into law on November 2025, BTR has been formally exempted from rent control provisions.听

For investors, that clarity is oxygen. Ian Murray and Ed Howe from听Bidwells听gave us a very telling听market听snapshot: 5,048 operational BTR homes across 21 schemes, 2,139 units under construction, 8,964 consented units and 553 units听submitted听for planning. Glasgow accounts for 46% of operational stock (2,340 units), Edinburgh 40% (1,999 units). The remaining schemes sit in Aberdeen and Perth.听

Planning submissions dipped post-2022 legislation听–听925 units in 2024 and 1,097 in 2025, down from the 2023 peak of 2,626 but听therein听lies the opportunity. Supply has听tightened; demand has not.听听

Emma James of Rightmove shared interest in key听locations across Scotland with averages of 4.7/5听regarding听satisfaction and Edinburgh听and Glasgow leading the way amongst BTR communities.听It鈥檚听safe to say Scotland is no longer the 鈥渨ait and see鈥� story,听it鈥檚听the 鈥渕ove now鈥� market.听

The tour followed on with our first site, Dockside in Leith, owned by听Goodstone听Living and managed by Native Communities, this site stands as a case study in regeneration done with operational intent. 373 residential units,听two听commercial units,听three听blocks ranging from 3 to 9 storeys听and studio and one-bed apartments (90%听furnished听by Loft).听

The architecture is a nod to Leith鈥檚 shipping heritage: angular fa莽ades and a colour palette deliberately maritime and modern. The site itself was formerly wasteland, a reminder that BTR often succeeds where others hesitate. Like many in the region,听management听operates听on Scotland鈥檚 28-day notice periodic tenancy framework a structural shift since 2017. The “end date expectation” that underpins English AST culture simply does not exist here.鈥�听

That fluidity demands operational听precision;听occupancy must be earned continuously听something that the English听market will soon experience听as the听Renters鈥櫶齊ights听Act is implemented this year. Dockside has even housed a Netflix production (Department Q filming), certainly front row听entertainment for residents, and听a reminder that flexibility can generate ancillary revenue as well as brand visibility.听

Next was the听McEwan, a testament to听community-led living. On arrival鈥痶o this Moda Living site, one resident had a full board meeting in session in their flexible听workspaces听and yet it felt entirely normal听– because it is.听476 units (phased delivery 2022鈥�2026), studios, 1, 2 and 3 beds, plus townhouses and duplexes.听A few student听residents,听otherwise,听evenly split demographically听with听24/7 amenities,听Wi-Fi听included, pets welcome,听EV charging in the car park.听

The most popular unit type? One beds. The toughest to shift? Two beds听–听a pattern echoed elsewhere.听In terms of flexibility, the business听allocates听a select number of units to short term lets. What is particularly interesting about this model is that there is no dedicated wing for short stay units. Instead, they are dispersed throughout the building, creating a true community-led mix of incoming,听outgoing听and existing residents.听

Built on the site of a former brewery (locals still recall the smell of hops), The McEwan听demonstrates听adaptive reuse at scale.听The interiors felt more akin to a centrally听located听Four Seasons, with rich, deep colours that reflected the vibrancy of the Scottish landscape. The space was elevated further by a distinctive fragrance, reminiscent of stepping into a luxury boutique.听Operationally, this is where the modern听luxury听BTR model reveals its edge: visibility of data, automation of听processes, occupancy management in real time. Maintaining performance in a 28-day notice environment requires granular insight. It is less about reacting to voids, more about predicting them.听

Finally, we visited听New Fountainbridge, delivered by听Vastint听and managed by Native Communities.听At first glance, the听building presents modestly, yet its striking height carries a quiet confidence.听The scheme听comprises听123 units, ranging from studios and one beds to听four-bedroom听apartments and townhouses. Since its launch in October, 103 units have already been let, with听one-bedroom听apartments proving the most popular choice.听While currently lighter on amenities, with a commercial gym and听additional听social spaces planned, the development appeals to a more considered and mature demographic.听听

Native鈥檚 鈥淟ocal Heroes鈥� strategy offers resident discounts with nearby businesses, strengthening community ties without over-programming communal areas.听The townhouse style homes, positioned along the canal鈥檚 edge, evoke the calm of a riverside retreat, offering respite from the energy of Edinburgh city life. From duplexes to apartments, the design strikes a balance between modern comfort and understated elegance听with an听atmosphere defined by quiet sophistication.听

If there was one clear takeaway from the tour, it was this: Scotland is fast becoming a proving ground for the UK鈥檚 operational BTR model under new legislative听conditions creating听a live testing environment where operational performance truly matters.听In this evolving landscape,听operational efficiency has moved from the back office to the front line, shaping asset performance and reinforcing investor confidence.听

With an estimated 11,000听additional听rental homes potentially set to enter the Scottish market, the scale of opportunity is clear. Our drive to Glasgow for the second leg of the听day听brought that pipeline into sharp focus, passing landmark developments such as New Avenue Living听by Touchstone听and Vista Park by Casa Moda. These schemes signal tangible momentum and a market intent on expanding supply.听

Yet unlocking homes is only part of the story. The true differentiator will not simply be access to capital, but the capability to听operate听at scale.听The evening concluded with the industry dinner at Sarti听in Glasgow, which we were proud to sponsor. It was a lively and engaged room, where formal policy discussions gave way to candid conversations about delivery,听risk听and opportunity. These moments of connection often surface the most honest insights, and the appetite to move forward was clear.听

A sincere thank you to Leanne Newell and her team at Moda Living, and to Bex Hetherington and her team at Native Communities for their generosity and insight throughout the tour. As well as the ARL鈥檚听Emma Henderson and听Brendan Geraghty.听A special mention must also go to Iain Murray,听Chair of the ARL Scotland Hub and听a proud Scot who guided us with both sharp real estate perspective and a surprisingly authoritative lesson on what makes听a truly great听tartan, and听to think this was just Day One of the tour!听

听

Day Two: 5听February 2026

By Emma Henderson, Operations and Events Manager, ARL听听

If听day听one was about legislative clarity and operational proof points,听day听two in Glasgow was about scale.听

The rain had followed us west, but so too had the momentum. Glasgow has long been considered Scotland鈥檚 BTR powerhouse听and walking the city with operators,听investors听and advisers,听it鈥檚听clear why. The fundamentals here are not theoretical, they听visible in concrete,听steel听and lease-up velocity.听

Morning discussions centred on pipeline and planning. Glasgow accounts for 46% of Scotland鈥檚 operational BTR stock and that leadership position is no accident. The city鈥檚 planning posture听combined with its development capacity and deep rental demand, has created conditions where schemes can move from consent to completion with relative confidence.听

Yet confidence does not mean complacency.听In a 28-day notice tenancy environment, operational resilience is not optional,听it鈥檚听foundational. Investors around the table were less concerned with whether BTR works in Scotland (it demonstrably does) and more focused on how to optimise performance within this distinct legislative framework.听

Day听two brought a strong line-up of schemes that听demonstrated听the breadth of Glasgow鈥檚 living offer.听

Platform_听in听Glasgow:听Our visit to Platform_听showcased听a well-established, institutionally backed BTR model听operating听at meaningful scale within the city. The scheme听demonstrated听the importance of strong brand identity, consistent amenity听delivery听and operational systems capable of managing volume without losing resident experience.听It reinforced a recurring theme of the tour: scale only works when underpinned by data discipline and community engagement.听

Dalian,听VervLife:听Here听we saw a scheme that blends high-density city living with considered resident experience. Its position within Glasgow鈥檚 evolving skyline reflects the city鈥檚 confidence in vertical rental living, while operationally it听demonstrated听the increasing sophistication of leasing strategies in a competitive environment.听

The Social Hub,听Candleriggs:听听Our final stop, The Social Hub at听Candleriggs, offered a slightly different lens听–听an integrated living model combining student accommodation, short听stay听and longer-term residents within one dynamic ecosystem.听It served as a听good听reminder that the future of urban living may not听lie听neatly within one tenure definition, flexibility,听activation听and hospitality-led thinking are increasingly part of the mainstream rental conversation.听

Across every scheme visited, one truth became clear: operational detail is now board-level strategy.听Scotland鈥檚 tenancy structure removes the artificial cliff edge of fixed-term AST expiries, there is no predictable churn cycle.听Instead, there is continuous movement听that听requires听real-time data visibility, proactive renewal engagement听with听residents, and听community听programming that genuinely drives retention.听

As the鈥痶wo-day鈥痶our鈥痯rogramme concluded, we gathered for networking drinks鈥痺ith鈥痗onversations moving鈥痜luidly between capital, planning,鈥痮perations鈥痑nd delivery.鈥疍ay鈥痮ne鈥痙emonstrated鈥痶hat Scotland鈥檚 BTR market is stabilised,鈥痑nd day鈥痶wo showed that it is strengthening. Scotland is open for BTR business, and听it’s听even better than before.听Don鈥檛听miss out.听听

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Thank听you听

A sincere thank you to听all听our delegates whose engagement, insight and candour made the discussions so valuable across both days. Events like this are only as strong as the people in the room听(or in this case, on the coach!), and the level of contribution throughout was exceptional.听

Our听particular thanks听go to our sponsors, Yardi,听Torsion Group听and Shoosmiths, whose support and commitment to the sector made this tour possible.听

We are also hugely grateful to our building hosts and operational teams who opened their doors so generously, and to our speakers and contributors whose听expertise听shaped the strategic and legislative context around what we experienced on site.听

Two cities. Two days.听
A huge collective effort.听

Another successful ARL Study Tour.听听

Join听us on the next ARL Study Tour…听听

Join us for our next ARL Study Tour听to听Cardiff and Bristol听on 29th听and 30th听April 2026听as we explore听for the first time听two further cities shaping the future of rental living.听

Details and registration can be found听here.听

We look forward to seeing you there.听

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