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New Build to Rent deal targets six UK towns

Posted by: In: Real Estate 31 Mar 2014 Comments: 0 Tags: ,

The agreement will deliver newly-built homes specifically for private rent in Horsham, Bristol, Brockworth, Southampton, Cambridge, and Hemel Hempstead.

Under the terms of today’s deal, the Mill Group will receive £8.7 million to work alongside Bovis Homes to deliver 190 homes for private rent.

The team will build 110 houses and 80 apartments across 6 different sites.

This is the third deal through the government’s £1 billion Build to Rent scheme. Construction has already started in two Round 1 projects, in Manchester and Southampton and 17 more are either in the final stage of due diligence or the contracting stage.

Through Round 2, a further 36 projects have been shortlisted which could deliver up to 6,500 homes – meaning the government is well on track to have work underway by 2015 to deliver up to 10,000 newly built homes for private rent.

Housing Minister Kris Hopkins said: “Millions of people use the flexible option of renting in the private sector. I want to ensure tenants have a choice of high-quality homes, rented under reasonable terms. So I’m pleased that this deal is complete to build 190 homes across 6 sites specifically for private rent.”

David Toplas, Chief Executive at Mill Group, said: “There is a significant, …read more

Source: The Movechannel



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