Build-to-rent developer hits 1,500 homes milestone

Placefirst, the Salford-based build-to-rent developer, has achieved record property portfolio growth, having doubled its stock since January 2021, hitting the 1,500-homes milestone.

The developer Psays it is on track to reach a projected level of 6,500 homes by 2026.

This follows a year of development success in 2021.

One key project has been the launch of ‘Elevate’, an £8m apartment scheme in Manchester. Elevate has brought back into use a former Jobcentre by repurposing the building and adding a new top floor to give it a new lease of life. The scheme is now in its final stages and delivers 53 modern apartments.

Elevate will complete this spring and has attracted huge interest, hitting a pre-let figure of 75% this week.

In addition to Elevate, both Placefirst’s Skye Edge and Scholars View developments are also due to complete in spring 2022.

And the final phase of the award-winning Welsh Streets development in Liverpool, which began in 2016, will be submitted for planning in the autumn.

To support the growth plans, Placefirst is continuing to develop its pipeline across the UK. Standout schemes include Esh Winning, which received planning approval at the end of last year. The brownfield site will be transformed into a neighbourhood of 89 homes, and will be the largest delivery of bungalows in a generation. Work is set to start on site this year.

In Bolton, Placefirst is working on a scheme in collaboration with Bolton Council. The project is set to deliver more than 150 rental homes in the town centre as part of a significant regeneration project.

A £65m residential scheme in Wolverhampton for 366 new homes and commercial space as part of a major regeneration project in the heart of the city’s historic Canalside Quarter, also received full planning approval in the final quarter of 2021.

Placefirst chief executive, David Mawson, said: “The 1,500 homes milestone is an incredible achievement for the business, extends our track record as a specialist in the single family housing market, and is a culmination of the hard work that is put into each of our developments.

“The impact of our developments has been fantastic – we have a track record of delivering high-spec homes to our communities through placemaking and innovative regeneration. We are excited about future projects and look forward to continuing our success.”