Dandara wins funding for three major PRS schemes

Aaron Morby 1 year ago
Share

Developer Dandara Group has received £45m in Government funding to unlock sites for 2,000 private rental homes in Birmingham, Leeds and Manchester.

Sir Robert McAlpine is set to build the new homes in Manchester in four blocks at Chapel Wharf near the Lowry Hotel in Salford

The Isle of Man developer is spearheading the project to deliver £400m of housing development with support from the Homes and Communities Agency and banking giant HSBC.

It can now build the trio of projects with Sir Robert McAlpine building 995 rental homes in Manchester, Interserve expected to build 744 homes in Leeds and Galliford Try on board to deliver 323 flats in Birmingham.

Funding will come from the government’s Home Building Fund, which makes cash available to help kick-start house building.

It is estimated that up to 1,500 construction jobs could be created across the three cities.

Housing minister Gavin Barwell said: “This is one of the largest private rental sector deals in the UK and will not only create thousands of homes for people in Birmingham, Leeds and Manchester – it will create jobs and opportunities for many hundreds of people.”.

Dandara Leeds

744 private rental home scheme in Holbeck Urban Village, Leeds

alpha-1

Galliford Try will build 322-homes project near the Crowne Plaza Hotel on Holliday Street in Birmingham

HCA chairman Sir Edward Lister said: “We’re working on a number of other deals, with builders of all sizes, and we’re also using our investment and land to attract new entrants to the industry.”

Dan Tynan, founder and chairman of the Dandara Group, added: “Dandara has already built more than 2,500 properties of this type in the last ten years in the UK, including Scotland’s largest PRS scheme of almost 300 properties in Aberdeen, acquired by LaSalle Investment Management on behalf of a large Pension Fund.”

HSBC’s head of housing in the UK Hugh Taylor said: “We are really pleased to be supporting Dandara alongside the HCA with development finance on this multi-site roll out of ‎their PRS programme. It is a significant contribution to the ‘housing challenge’ and is further evidence of PRS beginning to emerge as a distinct asset class.”

Latest news

February start for £70m Brentford FC stadium

Buckingham Group set to start work on scaled-down Bees ground in West London
28 mins ago

Developer chosen for trio of Woking towers

Mixed-use specialist Coplan aims to start work on town centre transformation in 2021
33 mins ago

Construction outlook brightens despite output gloom

HS2 awards see record spike in orders figures during the third quarter
3 days ago

Contractors to benefit from prequal red tape cut

Revamp of PAS 91 will help buyers know more about suppliers
3 days ago

Boost your online presence with the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
1 month ago

Berkeley to build modular homes factory

Construction set to start on new plant in Kent as profits continue to soar
3 days ago

Wales switches to project bank accounts

Education and Skills Funding Agency last central agency left to adopt PBAs
4 days ago

Forrest to make apprentices redundant

Shift to using subcontractors puts M&E apprentices at risk
3 days ago

Wolverhampton Uni to rebid £20m construction college

Wates was preferred bidder for the Springfield Brewery built environment college
3 days ago

Liverpool council to set up firm to build 10,000 homes

Foundations housing company will build on council land and refurb vacant stock
3 days ago

Plans for £75m student digs in Oxford

Developer Unite Students buys site for 885-bed scheme
3 days ago

Western Thermal buys Newcastle pipework specialist

Acoustic and insulation specialist doubles workforce to 250 with Henderson Site Services deal
4 days ago

BAM starts two Glasgow primary schools worth £18m

List of Scottish school wins grows with Blairdardie and Carntyne projects
4 days ago

Betting Spy: Bookies pay out on Man City title win

Punters get paid out early while the Manchester derby promises plenty of goals
4 days ago

R G Carter to rescue stalled tower in Ipswich

£20m funding deal agreed for waterfront scheme abandoned in the 2008 crash
4 days ago

Koreans rescue £15bn Moorside nuclear power station plan

West Cumbria project gets back on track but could be delayed by four years
4 days ago

T Clarke North West boss leaves after three months

Contracting head Steve Wallwork parts company with building services specialist
4 days ago

Gleeson housing completions set to jump by 20%

Northern house builder gears up to raise it active sites to 70
4 days ago

Tender race set to begin for £35m Wimbledon site

Clarion Housing Group has ambitious plans to transform Merton
5 days ago

BBC studio firm fined after electrician falls ten metres

Court hears how lack of edge protection left worker with a blood clot to the brain
4 days ago

Morgan Sindall BeMo tie-up wins £20m Tube train depot

Deal signed for 160m long train maintenance facility in West London
5 days ago

Bechtel bags £180m Gatwick Pier 6 expansion

Airport settles on construction management model to deliver complex Pier 6 expansion
5 days ago

Government unveils £600bn of construction work

Update to National Infrastructure and Construction Pipeline and another efficiency drive
5 days ago

Winvic tops contracts league for first time

Move into build-to-rent pays off for country's leading shed builder
5 days ago

Hammerson to buy Intu creating £21bn retail developer

Takeover casts doubt over McAlpine's revamp of Nottingham Broadmarsh centre
5 days ago

Croydon picks seven winners for £300m resi framework

Work to start on at least 30 smaller sites over coming months
5 days ago

BAM gets nod to start £100m Boston Barrier

January start on major tidal barrier project in Lincolnshire
5 days ago

Bouygues regional director joins Stepnell

John Rawlinson joins Stepnell to lead expansion plans in the West Midlands
5 days ago

Aberla lands £6m M&E package at Salford resi towers

Specialist to start this month on latest win from Domis Construction
5 days ago

1 in 5 worker Brexodus threatens 300,000 homes target

House builders nearly twice as reliant on overseas workers than general construction
6 days ago

Contractor services