Housebuilder announces £105m mixed-tenure Salford scheme of 500 homes

Eutopia Homes, a mixed-tenure residential developer, has revealed its latest project, a £105m scheme in Salford that will deliver 500 homes offering a mix of build-to-rent and for-sale apartments.

The development will be spread across two adjacent plots in the inner-city Ordsall area with the homes benefiting from waterside views.

The area is currently seeing a boom in development, with 1,250 residential units in planning.

Eutopia’s 2.8 acre site rests on the banks of the River Irwell, a short distance east of MediaCityUK, and will appeal to young professionals working there or who have recently graduated from Manchester’s four major universities.

Eutopia Homes was launched in 2017 by Scott Hammond, one of the co-founders of London rental housing brand Essential Living.

Scott was managing director of Essential Living, the UK’s first build-to-rent developer and operator, between 2012 and 2017.

His new house-building business has a £365m development pipeline containing homes for sale and rent in key regional cities, with sites in Greater Manchester, Exeter and Birmingham.

The London-based firm’s strategy is to focus on delivering mid-market homes across a range of tenures close to transport hubs.

Darling Associates, which opened an office in Manchester last year, is the architect across all three projects.

Eutopia’s £130m Exeter site will deliver 104 houses and 66 apartments for sale, 230 build-to-rent homes and a 65-bed retirement community across 15 acres of land acquired from Network Rail. Subject to planning in the new year, start on-site is expected in the third quarter of 2020.

In Digbeth, Birmingham, Eutopia has submitted plans for a £130m mixed-use scheme featuring a 167-bed hotel, affordable workspace and 480 homes on a four-acre site acquired from Mucklow. The site is currently occupied by engineering firm Sulzer, which is moving to a new purpose-built facility in the second quarter of 2020.

Scott Hammond said: “UK regional cities are attracting swathes of investment, thanks to rising student retention rates, improving culture and leisure scenes and new employment opportunities driven by major corporates moving operations outside of London.

“By creating mixed-tenure developments, we can help create genuine communities, accelerate delivery and de-risk development while meeting a range of housing needs.”