Peel sets up suburban build-to-rent developer

Aaron Morby 2 months ago
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Developer Peel L&P has launched a new suburban build-to-rent company called Letta.

Homes available will range from two to four-bed properties, all with private gardens.
Homes available will range from two to four-bed properties, all with private gardens.

Letta will deliver an initial pipeline of 100 energy-efficient family homes for market rent across two sites in Bolton and one in Ellesmere Port.

Over the next five years, output will rise through an identified pipeline of up to 1,000 homes.

All homes will be developed by Peel L&P’s home builder Northstone with properties let and managed by Liverpool-based property agency Redwing, part of The Regenda Group. 

Phil Wilson, chief executive of Northstone said: “The build to rent market has grown enormously, predominantly with successful city centre apartment schemes.

“However, following the pandemic and with the general pent-up demand from families also wanting to rent, we now see the opportunity to offer high quality and well-managed rental accommodation in our suburban neighbourhoods that suit their lifestyle changes and more agile working patterns.

“Northstone’s homes are ideal for people wanting to move out of the city centre with the flexibility of renting at more affordable prices rather than buying.”

Northstone builds beyond the current building regulations for energy performance, with better insulated and triple glazed homes that feature smart household technology to help reduce energy bills. 

The homes will be built across three sites, at Glisk, Northstone’s new Ellesmere Port development at Rossfield Park.

Further properties will be located at Silkash, Northstone’s first scheme in Westhoughton and also available at Airie at Garnet Fold, Bolton.  

 

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