Pioneering rental platform hits exceptional off-plan reservation rates
Almost 100 flagship units across three new development sites in Ellesmere Port and Bolton have been fully let within months of launch, by Letta, in partnership with Redwing.
Developed by Peel Group’s housebuilder arm, Northstone, and Liverpool-based property agency, Redwing, Letta is a ground-breaking suburban build-to-rent concept bringing affordable and energy efficient family homes alongside an expert end-to-end property management service across the North West.
It was launched in October 2022, offering properties to be let and managed by Redwing, part of the Regenda Group.
The three locations are a Glisk development in Rossfield Park, Ellesmere Port, an Airie development in St Helens Road, and a Silkash development in Bolton Road, Westhoughton.
Joanna Allen, Land and Partnerships Director at Letta and Northstone, said: “Letta set out to bring something new to the North West rental market, by offering more than bricks and mortar. Our goal was to create exceptionally built, super sustainable and professionally managed homes that provide tenants with an enhanced renting experience – and we’ve achieved just that.
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“The response to Letta has been incredible. Our homes were snapped up from day one, and our tenants have consistently reported high levels of satisfaction, praising everything from the quality of the build and energy-efficiency to the sense of community and attentive management service.”
Redwing achieved an exceptional off-plan reservation rate of 98.9% for the schemes, resulting in reduced void loss and a seamless move-in process for tenants.
Michelle Brooks, Director of Operations at Redwing, said: “We’ve had a brilliant 18 months working with the team at Peel Group and Northstone to bring this innovative concept to life and I’m so proud of everything the team have achieved.”
Phil Wilson, Chief Executive of Northstone and Executive Director for Land, Communities and Homebuilding at Peel Group, said: “At Northstone and Peel Group, we are committed to developing high quality, sustainable homes that shape the future of living. With Letta, we focused on sustainability, lifestyle and flexibility to address the increasing need for modern and suburban family homes to rent.
“Our innovative collaboration with Redwing ensured Letta tenants benefited from a home built to exceptional standards, and an enhanced living experience.”
Letta’s success brings expected growth over the next five years, with a projected pipeline of 1,000 homes to meet the growing demand for quality and affordable family rental homes in suburban locations across the North West.
