Build-to-rent boost as £700m committed to 6,000 new homes
Published by Max Salsbury for 24dash.com in Housing and also in Development
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Shariah investment bank Gatehouse has committed £700 million to Sigma Capital Group's private rented homes development across the North West, a build-to-rent boost that will deliver 6,600 new homes.
The British Property Federation (BPF) has welcomed the scheme as another step in ensuring the UK's housing stock is able to meet demand in the coming decades.
Ian Fletcher, BPF's director of policy, said: "This £700m investment is a hugely welcome development, and illustrates that build-to-rent projects, as long as they receive local backing, are workable outside London and the South East. Crucially for these developments, Liverpool and Salford City Councils have provided support in order to allow the schemes to go ahead.
“Furthermore this announcement is a fitting backdrop to today’s launch of the RIO. Hopefully this project will signal only the first of many such investments as the government continues to market essential foreign investment opportunities in UK housing."