The Housing Company will build for sale but will also seek to own homes in order to act as the city’s first large scale private landlord. We have an ambition to build, buy or own up to 10,000 stock within the city in the next ten years.
Over the past five years, elements of the Liverpool housing market have been repeatedly identified as amongst the best buy to let investment areas in the UK. An availability of low cost, existing stock offers genuine investor opportunity to make a good long term return.
Our Housing Company will move into this market, seeking to become the landlord of choice for key investment neighbourhoods and bringing a coherent and cost effective approach to buy to let investments.
The first project – in Ackers Hall Avenue in north Liverpool – is now underway with the Lovell Partnerhsip appointed the contractor for this scheme.
10,000 stock | 10 years
The UK Government is currently offering to subsidise the delivery of Shared Ownership and Rent to Buy homes, with subsidy available at up to £30,000 per unit. Our Housing Company will seek to take advantage of this opportunity by accessing grant funds to bring new, intermediate housing products to the market at subsidised development costs.
The City Council is also determined to take advantage of the speed and cost-effectiveness of off-site manufacture. We are currently in talks with a number of companies with a view to bringing a new off-site manufacturing factory to the city, a factory which will help increase the effective supply and drive down the cost of meeting the city’s housing market need.
The City Council is willing to consider investment into the right off-site offer and can help unlock local regeneration grant funds for the right partner.