The first of 200 affordable homes being developed by Countryside on behalf of Sigma Capital and Liverpool City Council have been launched to market, and 14 houses have already sold off-plan ahead of completion in November.
The show village at Queen Mary Place has been opened by Cllr Ann O’Byrne, deputy mayor of Liverpool, and the first tenants are due to move in later this month.
Countryside started on site in February, and completion is scheduled for November.
Of the 200 homes under construction, 136 will be available for sale through the Government’s 5% deposit Help to Buy scheme, with the remaining 64 available for private rent under the new private rental offering between Sigma Capital, Gatehouse Bank and Barclays.
There have been 14 homes already sold off-plan. Prices start at £148,950.
Sigma, via the joint venture Regeneration Liverpool, is working with Liverpool City Council to help the council deliver the Mayoral target of 5,000 new homes for the city by 2016. Regeneration Liverpool is also currently in the process of regenerating key development sites throughout Merseyside, including Norris Green and Stonebridge Cross, Croxteth.
Sigma’s PRS joint venture with Gatehouse has started construction of an initial phase of 927 new rental homes across the North West with a total development cost of approximately £100m. In June announced that the partnership planned to build up to 10,000 homes in total in the next five years.
Graeme Hogg, chief operating officer at Sigma Capital, said: “The 64 PRS units that we have here at Queen Mary Place are in addition to the 150 we have on site at NGV Liverpool, both of which are part of our initial £100m fund created by Sigma Capital, Gatehouse and Barclays. This alone is a £25m investment in PRS in North Liverpool.
“We only commenced on site in February and are delighted with progress to date. Demand for the product has been very strong and lettings are going extremely well. We expect to be letting the homes at a rate of around 15 per month and will be handing over keys to our first tenants this week. All of the units will be completed and fully let by November, only 10 months after we started.”