Peel L&P launches suburban BTR company
Peel L&P has launched a suburban build-to-rent company.
Letta, which has initial plans to deliver 100 energy-efficient family homes for market rent across two sites in Bolton and one in Ellesmere Port, has identified a pipeline of up to 1,000 homes in the next five years.
All homes are currently being developed by Peel L&P’s homebuilder Northstone. They will range from two to four bedrooms homes, all with private gardens and close to key transport links and sustainable travel routes.
Peel L&P has launched a suburban build-to-rent company.
Letta, which has initial plans to deliver 100 energy-efficient family homes for market rent across two sites in Bolton and one in Ellesmere Port, has identified a pipeline of up to 1,000 homes in the next five years.
All homes are currently being developed by Peel L&P’s homebuilder Northstone. They will range from two to four bedrooms homes, all with private gardens and close to key transport links and sustainable travel routes.
The homes will be built across sites at Glisk, Northstone’s Ellesmere Port development at Rossfield Park; Silkash (pictured) in Westhoughton; and Airie at Garnet Fold, Bolton.
Homes will be available to rent from November 2022. The properties will be let and managed by Liverpool-based property agency Redwing.
Phil Wilson, Peel L&P’s executive director for land, communities and homebuilding and 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.
“Our new partnership with Redwing offers a better choice of housing managed by a trusted landlord and the reassurance of a homebuilder that’s heavily invested in creating sustainable communities and we’ll look to scale up the number of properties over the next five years.”
Michelle Brooks, director of operations at Redwing, said: “Redwing and Peel L&P have worked together on a number of exciting projects, including Plaza 1821 in Princes Dock in Liverpool. This new partnership will provide more high-quality, energy-efficient homes across the North West and we’re proud to partner with Peel L&P on this exciting new business.”
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Image courtesy of Peel L&P
