Starlight Investments Tops Out 492-Home Build-to-Rent Scheme in Basildon

Basildon, UK (Nov. 4, 2026) — Starlight Investments announced the topping out of The Mercantile, a 492-home build-to-rent (BTR) development in Basildon Town Centre. The milestone marks completion of the development's highest structural point. It was celebrated with project partners and stakeholders.

The Mercantile will span three mid-rise residential buildings and include approximately 16,000 square feet of commercial and retail space, Starlight said. The development will offer one- and two-bedroom apartments near Basildon railway station.

The Mercantile Development: Homes, Amenities and Location

The scheme is located in Basildon's Market Square, close to the railway station. According to Starlight, residents will have access to Central London and the wider South East region, as well as nearby retail, dining and service offerings.

Planned resident amenities include:

• A fully equipped gym and yoga studio
• A cinema and co-working spaces
• A residents' lounge and private dining room
• A games room and golf simulator
• A rooftop garden and landscaped podium
• Bike storage, resident parking and pet-friendly features

The name, "The Mercantile," draws on the site's longstanding role as a place of trade and commerce. The brand identity features a modern interpretation of traditional market stall awnings that form the shape of an "M," Starlight said.

Statements From Starlight, Orwell Real Estate and Basildon Borough Council

"This milestone represents an important step forward in bringing The Mercantile to completion," said Jonnie Milich, Head of UK Residential at Starlight Investments. "The Mercantile reflects our commitment to delivering high-quality rental housing in well-connected communities while contributing to the renewal and evolution of Basildon Town Centre. We are grateful to our partners and project teams for their continued dedication as we work toward welcoming future residents."

Neil Strelitz MRICS, Co-founder and Director of Orwell Real Estate, credited collaboration among the partners. "Bringing together a close collaboration with Starlight, a committed contractor in Ernest Park, and strong support from Basildon Council has allowed us to deliver nearly 500 new homes at pace," Strelitz said. "The Mercantile will give the town centre a new generation of high-quality rental homes, and we are proud of the progress the whole team has made."

Jonathan Tizzard, Assistant Director, Property, Assets & Development at Basildon Borough Council, said the topping out reflects investor and developer confidence in the borough. "This development will deliver nearly 500 high-quality new homes in the heart of our town centre, helping to attract new residents, support local businesses and strengthen Basildon's economy," Tizzard said.

Part of Basildon Town Centre Regeneration

The Mercantile forms part of the ongoing transformation of Basildon Town Centre, according to the announcement. Starlight said the project is one of the town centre's most significant residential developments and will increase housing choice while supporting investment and activity in the surrounding area through new housing and revitalized commercial space.

Starlight's UK Residential Platform

Starlight's UK residential portfolio includes approximately 4,000 homes and more than £1.1 billion in assets under management. The firm is targeting a platform of more than 10,000 homes in the coming years. Starlight entered the UK in 2020.

In September, Starlight announced a £680 million UK BTR fund intended to support more than 6,000 additional rental homes. Three projects totaling about 1,500 homes were already under construction at that time, including The Mercantile and developments in Manchester.

Starlight is a privately held owner, developer and asset manager headquartered in Toronto. It oversees more than 70,000 multi-residential suites and more than 7 million square feet of commercial property space, with CAD $30 billion in assets under management.

UK Build-to-Rent Market Context

More than £900 million was invested in UK BTR during the third quarter of 2026, bringing year-to-date investment to approximately £4.2 billion, the strongest year-to-date total recorded at that point.

Supply remains constrained. Knight Frank reported 50,690 UK BTR homes under construction and 126,565 in planning during the first quarter of 2026. Rental listings were 4% higher year over year, but available supply remained nearly 25% below pre-pandemic averages.

BNP Paribas Real Estate reports that construction costs, borrowing costs and development-viability challenges are restricting new rental supply. Higher mortgage rates have kept some prospective buyers in the rental sector, and affordability constraints continue to make homeownership difficult. BNP Paribas also said single-family rental captured a larger share of third-quarter investment activity because planning and viability challenges have made some urban BTR projects harder to deliver.

Savills reported stronger-than-average rental growth across 72% of English local authorities during summer 2026, though it characterized the acceleration as a one-off adjustment rather than evidence of a major structural shift in supply and demand. The Renters' Rights Act came into force in May 2026 and has changed leasing conditions, including restrictions on landlords accepting offers above asking rent.

Outlook

With the structure of The Mercantile now at its highest point, Starlight continues to work toward welcoming future residents, according to the announcement.

Sources

• Starlight Investments, "Starlight Investments Announces Topping Out of Major Build-to-Rent Development in Basildon," Nov. 4, 2026: https://www.starlightinvest.com/news/starlight-investments-announces-topping-out-of-major-build-to-rent-development-in-basildon