Housing Growth Partnership signs deal with construction firm McGoff
The Housing Growth Partnership (HGP) has entered into a joint venture with McGoff Group to deliver a new build-to-rent scheme in Manchester.
The equity investor, a joint venture between Lloyds Banking Group and Homes England, has committed £13million to take forward the new Downtown Victoria North scheme, situated on a former gasworks on Rochdale Road, which forms a key part of the wider £4.5bn regeneration of Victoria North.
The scheme will consist of 237 units, including one, two and three-bedroom apartments and townhouses, as well as landscaped areas and residents’ facilities including a gym.
“Our investment with McGoff highlights the role that equity funding plays in housing projects off the ground across the UK during a high interest environment,” said HGP investment director, John McKeon.
>>See also: Could build-to-rent become the ‘darling’ of housing delivery?
HGP was founded in 2015 and has to date committed to deliver more than 8,350 new homes across build to rent, purpose built student accommodation (PBSA), open market, retirement living and regeneration schemes.
Construction has already begun at Downtown Victoria North, and is due to complete in late 2025.
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