Renaker awarded £55m for build-to-let homes in Manchester

Housing minister Brandon Lewis has awarded developer Renaker £55m to build 779 homes for private rent across two sites in Manchester.

The deals will provide £35.1m for 497 homes at the Greengate development in Salford, and £20.2m for 282 homes for rent at Cambridge Street in the city centre.

The funds have been awarded from the Government’s Build to Rent fund, which has been designed to help developers produce large-scale, quality homes, specifically for the private rented sector. 

Each site will include a mix of one, two and three-bedroom properties. Work is already underway, and is expected to be completed by the middle of next year.

Renaker was founder by Daren Whitaker, a former director of Laing O’Rourke’s piling business.

Speaking about the grant at the British Property Federation’s annual conference, Lewis said: “Millions of people use the flexible option of renting so I’m determined to create a bigger, better private rental market offering greater choice for tenants.

“This extra money will not only create 800 more homes for the people of Manchester and Salford, it will also create jobs and security for hardworking people – a vital part of our long term economic plan to secure a better future for Britain.”

Chief Executive of the Homes and Communities Agency Andy Rose said: “This is a major investment in the private rented sector in Manchester. It demonstrates how the HCA, working closely with partners, is combining financial and local expertise to increase the private rented choice in areas where there is a high demand for homes.”