£700m committed to 6,600 new homes in build-to-rent boost
- 02 Dec
£700m has been committed so that new homes can be built to boost the build-to-rent scheme.
To boost build-to-rent properties Shariah investment bank Gatehouse has committed £700m to Sigma Capital Group's private rented homes development across the North West to deliver 6,600 new homes.
The scheme has been welcomed by the British Property Federation as another step in ensuring the UK's housing stock is able to meet demand in the coming years, reports 24dash.
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."
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