Crossfield Exclusive Developments is building 59 apartments at Alexandra Drive in Aigburth – 20 will be shared ownership and 39 will be rent to buy basis. Tony McDonough reports
Property firm Crossfield Exclusive Developments has announced a partnership with the Regenda Group for the sale of 59 affordable homes being built in south Liverpool.
Redwing, part of The Regenda Group, has agreed to sell and manage the apartments under construction at Alexandra Drive in Aigburth. Contractor Crossfield Living is building the £9m project which secured planning approval in October 2019.
Of the 59 units, 20 will be available for shared ownership and 39 will be let on a rent to buy basis. Rent to buy allows residents to move into a home at 80% of the market rent for five years, meaning they can save a deposit and buy the property after this time.
It offers an alternative to people unable to access home ownership or social housing, who would likely otherwise end up renting a home from a private landlord, without tenure security, and without the prospect of being able to save due to the cost of their monthly rent payments.
Martin Davies, director of development at The Regenda Group, said: “Crossfield is bringing much-needed, high quality, affordable homes to Liverpool, and we are delighted to be part of this project, selling and managing 59 apartments through our property company, Redwing.”
In a separate element of the project, Crossfield Exclusive Developments is creating a further 14 apartments for the open housing market in a refurbished 19th century coach house also on Alexandra Drive, bringing the total number of new homes being developed on the site to 73.
Crossfield Exclusive Developments is a joint venture between Crossfield Group and Exclusive Investments. Crossfield Living is an arm of Crossfield Group. David Cain, managing director of Crossfield Exclusive Developments and Crossfield Group said: “We are aware of just how vital affordable homes for sale and rent are to meeting the need for housing in the North West.
“Our aim at Alexandra Drive has been to develop high quality homes which are built to the highest standards. We are very pleased to be partnering with The Regenda Group so that these homes can then be made available to local people by either being sold or managed by this reputable and experienced organisation.”