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11/02/2015

£55m rental deal for Manchester

Words: Laura Edgar

Housing minister Brandon Lewis has announced a £55 million deal for 800 private rent homes in Manchester and Salford.

The deal is part of the government’s £1 billion Build to Rent scheme, which is designed to help developers to deliver quality homes specifically for the private rented sector.

The £55 million, the government said, will enable Renaker to build 779 homes across two sites in Manchester and Salford. The homes on each site will be a mix of one, two and three-bedroom properties.

Work is already underway and it is expected that the sites will be completed by summer 2016.

Lewis explained: “Millions of people use the flexible option of renting so I’m determined to create a bigger, better private rental market offering greater choice for tenants.

“This extra money will not only create 800 more homes for the people of Manchester and Salford, it will also create jobs and security for hardworking people – a vital part of our long-term economic plan to secure a better future for Britain.”

Renaker director Daren Whitaker said construction on the two sites is running to schedule.

“Each scheme has been meticulously planned and designed to deliver new and highly aspirational places to reside,” he added.

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