Royal London Asset Management has expanded its build-to-rent portfolio to nearly 1,000 units with the acquisition of two schemes in Watford and Barking, taking its total residential holdings to 962 units as it continues to scale its presence across London and the south east.

The investor has forward-funded a 152-unit development at Abbey Quay in Barking alongside developer Weston Homes and has also acquired a 225-unit scheme under construction on Sydney Road in Watford.

The deals follow earlier investments in Slough, Bracknell and Barking and form part of RLAM's wider living strategy, which is focused on building a concentration of assets around London while also targeting suburban and commuter markets where housing supply remains under pressure.

The Watford scheme is scheduled for completion in the third quarter of 2026 and will comprise a mix of one-, two- and three-bedroom apartments alongside landscaped communal space, parking and cycle storage facilities.

In Barking, the Abbey Quay project is expected to complete in late 2028. The development will deliver 152 apartments as part of a broader mixed-use regeneration scheme that will include retail, leisure and food-and-beverage space along the riverside.

Both assets will be managed by ProperTies Living, RLAM's in-house residential operating platform, which oversees leasing, resident services and day-to-day management across the portfolio.

"Our aim is to deliver well-managed, high-quality homes that meet real local need while providing strong, long-term returns for our investors," RLAM Living Fund Manager Paul Ruston said in a statement.

ProperTies Living founder Tim Holden said the two schemes align with the company's focus on operating and managing rental communities over the long term.

"Across both locations our focus will be on creating well-run, welcoming homes that residents genuinely value, combining high-quality design, thoughtful amenity provision and an operational model built on service, care and consistency," Holden said.

The acquisitions come as institutional investors continue to increase allocations to the UK BTR sector, attracted by strong rental demand, limited housing supply and the prospect of stable long-term income streams.