property
Rochester Developers Lock in Fixed Rents, Cut Mortgage Risks for Tenants
Developers in the city are delivering apartment complexes that bundle services and cap annual increases for leaseholders who choose not to buy.
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How we reported this
New build-to-rent apartments at Rochester Riverside opened for first tenants on 15 June 2026, with one-bedroom units listed at £1,050 a month including utilities and broadband.
The timing follows Medway Council’s April 2026 update showing average house prices in the ME1 postcode at £312,000, up 7 per cent from the same month last year, while average private rents climbed to £1,180. Tenants at the Riverside scheme receive a two-year fixed rent guarantee and access to a 24-hour concierge, a gym and a residents’ lounge, features not standard in older stock along the High Street.
Tenant packages at Riverside and Borstal Road sites
The Riverside development sits beside the River Medway footbridge and contains 184 units managed by the same operator running a smaller block on Borstal Road that completed in February. Both sites require a £500 refundable deposit and offer six-week break clauses after the first six months, provisions that contrast with standard assured shorthold tenancies common on streets such as Delce Road. Residents also gain priority booking for on-site parking at £85 a month, a rate below the £120 charged at nearby surface lots operated by the council.
Local letting agents report that 62 per cent of applications for the Riverside units came from households already renting in the ME2 and ME4 postcodes who cited the fixed service charge as the main draw. The operator publishes quarterly accounts showing the service charge has risen only once since launch, by 2.3 per cent in line with the consumer prices index for housing.
Next steps for households weighing rent versus purchase
Households can view remaining units at both sites during open days scheduled for 18 and 19 July. Those considering a purchase instead are advised to compare total monthly outgoings using the council’s online affordability calculator, which factors in current mortgage rates quoted by lenders active in Rochester. Tenants who sign before 31 August receive a £200 credit toward the first utility bill.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.