Shoosmiths’ living sector experts have advised The PRS REIT plc on the real estate aspects of its sale of The PRS REIT Holding Company Ltd (PRS HoldCo) to UK Housing Platform Bidco Ltd.

Published: 12 December 2025

The £1.1bn transaction, which completed on 9 December 2025 following shareholder approvals, marks the conclusion of PRS REIT’s strategic review.

Shoosmiths led on the real estate aspects of the transaction, handling extensive due diligence, managing the property data room, and providing strategic guidance on property warranties within the SPA, as well as robust input into disclosures. Following completion, PRS REIT is now pursuing a members’ voluntary liquidation and a return of capital to shareholders.

PRS HoldCo holds the entirety of PRS REIT’s property assets – one of the UK’s largest single‑family build to rent (BTR) platforms, comprising c.5,478 purpose-built rental homes across 70+ sites. The sale represents a transaction of significant scale for the UK single‑family BTR market in 2025.

Shoosmiths’ deal team was led by real estate partner and investment expert Lyndsey O’Connor, supported by principal associate, Gillian Watson, senior associate Rachel Munro and trainee solicitor Lara Swanepoel.

Lyndsey O’Connor, real estate partner at Shoosmiths, said:

“Shoosmiths is proud to have helped complete what is a milestone transaction for the PRS REIT and the UK’s wider build to rent sector. It follows both a long-term firm and personal client relationship, after acting for the company since 2017 and advising on over 70 site acquisitions and other key deals as it scaled to become one of the UK’s leading single‑family BTR platforms.

“The sale underscores the maturity and institutional appeal of single‑family rental and the role long‑term partnerships play in delivering outcomes at this level. It also shows that Shoosmiths real estate is the trusted advisor in the build to rent sector, with our experts advising on major single-asset and portfolio transactions, as well as the delivery of investment and development platforms in 2025.”