L&G on board for 158-home Castleton scheme
Partnering with MCI Developments, the investor’s affordable housing arm will acquire the £40m Trub Farm development in Rochdale.
The local council granted planning approval for the scheme last month, triggering the completion of a deal between MCI, part of Keepmoat, and L&G Affordable Homes.
The 158-home scheme is to feature 48 one- and two-bed apartments and 110 two-, three-, and four-bed houses on 12 acres off Manchester Road.
L&G plans to make the homes available for social rent and shared ownership.
The deal sees LGAH’s Greater Manchester pipeline continue to grow following deals earlier this year for a combined 397 homes in Salford, Oldham, and Rochdale.
The RP has also been selected to deliver another 369 homes in Charlestown, Levenshulme, and Moss Side in Manchester.
Marcus Fisher, head of new business at L&G Affordable Homes, said: “Trub Farm is an important scheme for Rochdale and partnerships like this, where L&G can provide long-term stability with institutionally backed investment, are key to getting projects like this done.
“We’re doing a lot of work in the Manchester region, unlocking grant funding to deliver schemes like this and partnering with local businesses.”
Jamie Irving, land and partnerships director at MCI Developments, said: “We’re proud to be partnering with L&G on this flagship scheme, which will deliver much-needed affordable homes and support the creation of a thriving new community in Rochdale.
“At MCI Developments, we pride ourselves on a robust partnership model and this collaboration and investment with L&G reflects our shared commitment to delivering high-quality homes in places where they are needed most. We look forward to progressing our plans for the scheme.”
Pegasus was the planner for the scheme. Other consultants included E3P, TPA Landscape Architects, Design for Security, AES Sustainability Consultants, ELLUC Projects, Adapt Heritage, Miracle Design and Play, Eddisons and Roger Hannah.
Learn more about the application by searching 24/01007/FUL on Rochdale Council’s planning portal.
