Northstone, Torus strike £28m shared ownership deal
A total of 106 homes across two schemes will be available for shared ownership under a deal agreed by the developer and the housing association.
Torus has acquired the homes, located across Northstone developments in Ellesmere Port and Wigan, for around £28m.
53 homes at both Glisk, Northstone’s 218-home development in Ellesmere Port, and Tulach, the 268-home scheme in Wigan, will be earmarked for shared ownership.
Jo Allen, head of partnership and development at Northstone, said the deal was aimed at addressing the “nationwide housing shortage”.
“Wherever we create our communities, we want to ensure we’re responding to local demand.
“This deal with Torus expands on the strides we’ve made in the last 12 months to break down barriers that have previously prevented many people accessing sustainable, high-quality new builds.”
Claire Smith, head of housing growth and partnerships at Torus Developments, added: “Torus understands the power of housing-led regeneration and how building homes that meet the needs of local communities galvanises positive change, which is why we’re thrilled to be working with Northstone to bolster access to bespoke, fit-for-purpose homes in Wigan and Ellesmere Port.”
Since being established in 2019 Northstone, part of Peel L&P, has built a pipeline of over 1,300 homes on sites totalling 150 acres.