Legal & General Capital (LGC) has revealed plans to extend its build-to-rent portfolio in Salford.
The move follows the acquisition of a further development site from English Cities Fund (ECf), bringing LGC's and PGGM's joint venture (JV) pipeline to nearly 800 new homes.
Overall, total investment will be more than £250 million.
The new Salford site has full planning consent for 135 units over 15-storeys, providing a total of 225 homes to be managed by LGIM Real Assets.
It lies adjacent to the New Bailey build to rent scheme currently being built by Carillion.
Devised and designed by the ECf, a JV between Muse Developments, Legal & General and the Homes and Communities Agency, New Bailey is a major regeneration scheme delivering a new destination for business and leisure in the city.
James Lidgate, Director of Housing at LGC, said: "Much has been made about generation rent, but for us this is about generation choice. We are proud of our philosophy for Built to Rent and will only invest in and develop purpose built schemes that offer renters a good quality, affordable choice that suits their personal circumstances and lifestyle."
Bill Hughes, Head of LGIM Real Assets, added: "With long term ownership at the heart of our designs, we will ensure that lifecycle costs, maintenance and management of these homes is considered right from the outset of our land acquisition process so that we can pass on a high quality service and good value costs to our residents."
Construction is due to begin this month, with a scheduled completion date of March 2018.
(LM)
Construction News
14/04/2016
LGC Reveals Plans To Build Additional Homes In Salford


01/07/2025
Construction firm GRAHAM is making strong progress on the University of Manchester's flagship Fallowfield Campus redevelopment, working as part of the Viridis Consortium alongside partners Equitix and Derwent FM.
Following the demolition of the iconic Owens Park Tower, the project has now entered i

01/07/2025
Kirklees Council has announced that the West Yorkshire Archive Service (WYAS) will be moving into a new, purpose-built home within Huddersfield's flagship library hub, part of the Our Cultural Heart regeneration scheme.
The move marks a major milestone in the preservation and accessibility of the b

01/07/2025
Dalkia UK has officially assumed responsibility for the facilities management services at eight nuclear power stations operated by EDF Nuclear Operations.
The newly secured contract includes a wide range of essential services, including mechanical and electrical maintenance, building and grounds up

01/07/2025
Ofgem has provisionally approved a landmark £24 billion investment package to upgrade Britain's energy infrastructure, strengthen energy security, and accelerate the transition to clean power.
The initial funding, announced on July 1, is part of a wider £80 billion programme that represents the mo

01/07/2025
Engineering specialist MARCH has been appointed to United Utilities' Monitoring and Control Systems Integration framework, further strengthening its role in supporting vital water infrastructure projects across the North West.
The framework, which will initially run for five years with the potentia

01/07/2025
THE GUARDTECH GROUP are gearing up for a golden second half of year with THREE awards showpieces on the calendar.
First up, the cleanroom construction experts are finalists for the Large Business of the Year gong at the prestigious Suffolk Business Awards.
That event takes place on Thursday 10 Jul

01/07/2025
Leeds College of Building (LCB) has launched a refreshed brand identity and a new website as it celebrates 65 years of delivering specialist education and training in the construction industry.
The rebrand follows an 18-month collaboration with branding agency Born Communication, aiming to better r

01/07/2025
Three major projects delivered by Farrans have been named among the UK and Ireland’s best in the shortlist for the 2025 British Construction and Infrastructure Awards.
The Gull Wing Bridge in Suffolk, constructed by Farrans on behalf of Suffolk County Council, has been shortlisted in the Best Trans

01/07/2025
Persimmon Homes Wessex and Selwood Housing have formalised a new agreement to deliver additional affordable homes at the Backbridge Farm development in Malmesbury.
The two organisations have exchanged contracts on six high-quality homes, which Persimmon will complete and hand over to Selwood Housin

01/07/2025
More than 200 pupils from 14 Manchester schools came together to celebrate their achievements in sustainability and environmental action, as part of the city’s Eco-Schools programme.
Teachers and community leaders joined the pupils in Heaton Park to officially recognise the schools that have led t