Placefirst partners with Strata to build 500 homes by 2028
The BTR developer and operator has joined with Strata Homes in its first private sector joint venture, beginning with 128 homes at Strata’s ‘Desire’ development near Thorpe Park, Leeds.
The homes will be constructed using timber rather than steel or concrete, enabling a faster turnaround time and a comparatively higher thermal insulation.
This will also ensure the houses, which will be a mix of two-bed townhouses and three- to four-bed semi-detached homes, are able to quickly enter the rental market.
Completion is scheduled for May.
The development marks Placefirst’s second neighbourhood in Leeds, following Cross Heath Grove in the south of the city.
Thorpe Park is located five miles from Leeds city centre and close to the M1, with plans for its own train station currently progressing.
KPMG Corporate Finance advised Strata and the framework agreement has already identified a further 221 homes for delivery across the UK.
Anna Hwang, chief investment officer of Placefirst, said: “Our ambition to deliver more quality homes across the UK comes down to a simple belief: renters deserve better.
“For too long, poor-quality housing with unstable tenancies has been the norm in the UK’s rental market. We know the only way to solve this problem is deliver more expertly-built, professionally-operated rental homes – whether through building them ourselves or through collaborative partnerships.
“This partnership with Strata is one such example and represents an important step forward in our mission. Combining our expertise, we can deliver sustainable homes at scale faster than ever before.”
Gemma Smith, chief executive at Strata, said: “This partnership with Placefirst is a natural progression for Strata as we continue evolving to become an innovative multi-tenure home builder.
“We believe everyone should have the opportunity to live in a home that is beautifully designed, build to high quality and energy efficient, whether buying or renting.”
