New Deal To Create Rental Properties In The South

A new deal that will create hundreds of homes for rent in the south of England has been welcomed by The British Property Federation (BPF).

Berkeley Group will construct 1,778 new properties in total and over 500 of those will be set aside for rental purposes using the Homes and Communities Agency (HCA) private rented sector scheme.

The HCA will provide £45.6 million of funding to Berkeley and in return it will receive a 20 per cent interest in the value of the dwellings that will be available to lease.

Liz Peace, Chief executive of the BPF, stated the move shows financial numbers can be "made to work".

"The approach should be considered by local authorities, alongside similar innovative approaches such as that used in Birmingham, as potential housing delivery models to explore," she added.

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