Housing deal to help unlock development in city

A MULTI-MILLION pound deal to provide 323 homes in Birmingham has been agreed as part of a package announced by Housing Minister Gavin Barwell.

Manchester and Leeds are also included in the housing deal which will see 2,000 homes built across the three cities and unlock £400m of development according to the Government. 

The Government plans to increase investment in purpose-built rental properties and will be one of the largest PRS investments in the UK. 

It will receive £45m funding from the government’s new Home Building Fund – which makes money available to help kick-start new development and housebuilding.

Developer Dandara Group is leading the project with support from the government’s housing delivery agency, the Homes and Communities Agency, and banking giant HSBC.

The joint venture partners have estimated that 1,500 jobs in construction could be created across the city during the development of the 2,062 rental homes. 

995 homes have been earmarked for Manchester and 744 for Leeds following last week’s Autumn Statement which outlined £7.2bn of housing investment. 

Housing and Planning Minister Gavin Barwell said: “Alongside homeownership, we’re determined to create a bigger, better private rental market to offer greater choice for tenants in a country that works for everyone.

“This is one of the largest private rental sector deals in the UK and will not only create thousands of homes for people in Birmingham, Leeds and Manchester – it will create jobs and opportunities for many hundreds of people.”

Sir Edward Lister, HCA Chairman, said: “This massive investment, one of the largest private rented deals this year, shows our determination to get builders building and substantially grow the market in this country.

“We’re working on a number of other deals, with builders of all sizes, and we’re also using our investment and land to attract new entrants to the industry.”