Work starts on 100m housing scheme across Greater Manchester

Construction work has started on the 927 apartments and houses at ten sites in Greater Manchester and four in Liverpool included in a new £100m housing development scheme, a recent news report was able to reveal.

It follows the agreement of up to £67m of finance from Barclays which supplements equity of £47m provided by Shariah-compliant investment bank Gatehouse.

The properties will be built on land procured and developed by regeneration group Sigma through its existing local authority partnership with Liverpool City Council and Salford City Council, as well as its house building partner Countryside Properties (UK) Ltd.

Countryside Properties is to set to complete construction within two years and Direct Lettings Ltd, part of the Shepherd Direct Group, will manage all lettings.

Graham Barnet, chief executive of Sigma, said: "We see considerable potential to create one of the largest new build privately rented residential portfolios in the UK and I am delighted that construction of the first phase of over 900 new homes for rent across Greater Manchester and Liverpool is now starting.

"We believe the joint venture with Gatehouse and our new partnership with Grainger plc firmly establishes blueprints for further large scale housing programmes across cities throughout England with other partners and additional local authorities."

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