The third stage of the Governments Build to Rent Scheme has been given the thumbs up by the Housing Minister Kris Hopkins MP.

On the 28th March he signed an agreement with the Mill Group to fund new builds within six areas solely for private rental. 

 

The target of the scheme is to achieve the figure of 10,000 new homes being privately rented by 2015 and is one of the government's measures to ease the housing crisis.

The first stage of the Build to Rent has already seen work starting in nineteen areas throughout the country that includes Manchester and Southampton. The second part is reaching the final agreement stage with 36 schemes featured on the shortlist which will account for 6,500 new homes.

 

The deal that has been agreed with the Mill Group will mean that they will receive £8.7 million and they will be working hand in hand with Bovis Homes.

The working partnership will build 110 houses, 80 apartments across six sites. The areas and locations will be, Charlton Hayes in Filton, Bristol, Aspen Park in Hemel Hempstead as well as Brockworth, Horsham, Cambridge and Hampshire will also house the properties.

 

Housing Minister Kris Hopkins said: ‘Millions of people use the flexible option of renting in the private sector. I want to ensure tenants have a choice of high-quality homes, rented under reasonable terms. So I’m pleased that this deal is complete to build 190 homes across 6 sites specifically for private rent.

"And with more sites being considered for a share of our £1 billion Build to Rent fund, we’re well on track to have work underway on 10,000 homes for rent by 2015."