Housing Minister Brandon Lewis has announced a £55m deal to provide nearly 800 homes for private rent in Greater Manchester. The deal is the latest move from the government’s £1bn Build to Rent scheme, which is on track to build 10,000 homes for private rent.
Under the terms of the latest agreement, developer Renaker will receive the funding to build 779 new homes across two sites in Manchester and Salford. Each site will include a mix of one, two and three-bedroom homes. Some £35m funding will support the development of 497 homes at the Greengate scheme in Salford. A further £20m will be invested in providing 280 homes for rent at Renaker’s Cambridge Street development in Manchester.
Work is under way, and is expected to be complete by the middle of next year.