Birchgrove appoints development director to accelerate growth

Russ Beresford has joined retirement build-to-rent operator Birchgrove to help drive growth, as it anticipates a surge in demand for rental homes for older people over the next 10 years.

Beresford has more than 20 years of experience in the property development industry. Before joining Birchgrove, he was head of development at co-living provider The Collective and has also held roles at Landsec, Blackstone Property Management, Hammerson and Lend Lease.

In addition to co-living, his previous roles include other sub-sectors of the property sector, including Central London office development, out-of-town retail and city centre mixed-use developments.

‘According to CBRE research, the UK already has a 614,000 shortfall in senior living units and that number is only going to get larger if estimates on the number of people renting in retirement are to be believed – a Pensions Policy Institute report published last year predicted that by 2041, 17% of pensioners will be renting privately,’ said Honor Barratt, Birchgrove’s chief executive officer.

‘We’re delighted to have secured someone with Russ’s background, who has expertise in many areas that I don’t. We believe he can help us expand at scale, as well as making sure we’re planning our developments so we’re running buildings efficiently for the long term, maximising sellable area and constructing buildings with flexibility as our customers change in the future.’

His appointment follows two others from outside the later living sector late last year, with Marcus Hodges joining as chief operating officer and Raphaël Koifman taking up the post of chief financial officer.

Beresford said: ‘This post is a development professional’s dream – a well-backed company with huge expansion plans and an emphasis on innovation. I’m looking forward to playing a role in the company’s growth.’

Founded in 2017, Birchgrove operates four retirement communities across the South East, with two of these at full capacity and operating waiting lists. It has a fifth development set to open before the end of this year, with four additional communities under construction.

Speaking at ARCO’s annual conference in July, Barratt discussed how the business was trying to improve sales velocity and its fill rate.