Placefirst and Strata form resi partnership
Placefirst has partnered with housebuilder Strata to form a joint venture with plans to deliver more than 500 homes by 2028.
The partnership will begin with the pair delivering 128 homes at Strata’s Desire development near Thorpe Park, Leeds.
The homes will be built using modern methods of construction, enabling them to be delivered faster and more sustainably than traditional building approaches, ensuring they enter the rental market quickly to meet rising demand.
Placefirst has partnered with housebuilder Strata to form a joint venture with plans to deliver more than 500 homes by 2028.
The partnership will begin with the pair delivering 128 homes at Strata’s Desire development near Thorpe Park, Leeds.
The homes will be built using modern methods of construction, enabling them to be delivered faster and more sustainably than traditional building approaches, ensuring they enter the rental market quickly to meet rising demand.
Timber’s superior thermal insulation compared to steel or concrete will help reduce energy costs for residents, resulting in an EPC B rating and enhancing long-term affordability and comfort.
With completion scheduled for May 2025, the agreement will see Placefirst manage and maintain a mix of two-bedroom townhouses in addition to three- and four-bedroom semi-detached homes. It will be Placefirst’s second neighbourhood in Leeds, after Cross Heath Grove in the south of the city.
KPMG Corporate Finance advised Strata and the framework agreement has already identified a further 221 homes for delivery across the UK.
Anna Hwang, chief investment officer at Placefirst, said: “Our ambition to deliver more quality homes across the UK comes down to a simple belief: renters deserve better. For too long, poor-quality housing with unstable tenancies has been the norm in the UK’s rental market. We know the only way to solve this problem is deliver more expertly-built, professionally-operated rental homes – whether through building them ourselves or through collaborative partnerships.
“This partnership with Strata is one such example and represents an important step forward in our mission. Combining our expertise, we can deliver sustainable homes at scale faster than ever before. Through our shared commitment to creating places where residents don’t just live but thrive, we will deliver a homeowner-quality living experience for our renters.”
