744 PRS homes to be delivered in Leeds city centre

Dandara Group, the national property developer, is set to deliver 744 homes in Leeds, which will be located at Holbeck Village.

This residential development is part of a wider scheme which will see Dandara more than 2,000 new Private Rental Sector (PRS) homes in city centre locations across Manchester and Birmingham, as well as Leeds.

Supported by the Homes and Communities Agency and HSBC, the projects are set to be the single largest PRS development investment in the UK, with an estimated value of almost £400m.

These homes will aim to increase the attractiveness of three of the UK’s major growth centres outside of London by providing modern, affordable places to live at city centre addresses.

Funded by the HCA’s Home Building Fund, HSBC and the Dandara Group, the projects also include contracts for Galliford Try, Interserve, Sir Robert McAlpine and their subcontractor supply chains, which have all worked with Dandara during the project planning phase.

With a start date of January 2017, construction is expected to be complete by December 2019, and all permissions and contracts are already in place.

Following completion, Dandara Living will manage the letting and ongoing management of each development using in-house teams, based within purpose-built facilities at each site.

Dan Tynan, founder and chairman of the Dandara Group, said: “The Private Rental Sector can help deliver the volume and high standard of homes needed by those who want to live and work in the UK’s major cities.

“Dandara has already built more than 2,500 properties of this type in the last ten years in the UK, including Scotland’s largest PRS scheme of almost 300 properties in Aberdeen, acquired by LaSalle Investment Management on behalf of a large pension fund.

“We are now in a position to actively work with institutions, and independently, to make a sizeable contribution to this market.

“PRS is already providing accommodation for a new generation of workers in London, and with these new developments we will deliver much-needed, purpose built and professionally managed ‘build-to-rent’ property in the regions.

“We would like to thank all of our advisers, notably lawyers Addleshaw Goddard, property advisers Knight Frank, Greyfriars Strategic Financial Advisers and our project team members, internal and external.”

Hugh Taylor, HSBC’s head of housing in the UK,commented: “We are really pleased to be supporting Dandara alongside the HCA with development finance on this multi-site roll out of ‎their PRS programme.

“It is a significant contribution to the “housing challenge” and is further evidence of PRS beginning to emerge as a distinct asset class.”

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