Placefirst partners with Strata to build 500 homes
Placefirst forms its first-ever joint venture to build over 500 high-quality single-family homes by 2028.
UK build-to-rent property developer Placefirst has formed a joint venture with Strata to build 500 homes while maintaining their sustainability targets.
The partnership represents Placefirst’s first-ever joint venture and demonstrates a commitment to expanding their growth strategy across the UK.
The project is set to be completed by May 2025 and will include the management of a mix of two-bedroom townhouses in addition to three- and four-bedroom semi-detached homes.
The first phase of the partnership will oversee the delivery of 128 homes at Strata’s ‘Desire’ development close to Thorpe Park, Leeds. The project marks the company’s second neighbourhood in Leeds, after Cross Heath Grove.
Placefirst aim to build the houses using specific methods which ensure a speedy delivery which will alleviate the rental market demands.
Anna Hwang, Chief Investment Officer of Placefirst, highlighted the company’s stance on protecting the renting community in the UK.
Hwang 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.
The homes are set to be built using Modern Methods of Construction (MMC) alongside “sustainable” building approaches.
According to Placefirst, using timber in comparison to steel or concrete will help reduce energy costs for residents, resulting in an EPC B rating and enhancing long-term affordability and comfort.
Gemma Smith, Chief Executive Officer at Strata, highlighted the design aspects of the new homes and how this will benefit future residents.
Smith said: “We have designed a collection of homes for the single-family rental market, retaining the signature Strata style inside and out. We have worked with Placefirst to carefully consider the internal specification and ensure the homes offer everything a resident will be hoping for.
“We see it as our role to create communities that will in turn improve the lives of generations to come”.
