Torus Developments and Brack Construction break ground on £5m Liverpool scheme to build 26 apartments and five houses – all available via Rent to Buy. Tony McDonough reports
Affordable housing provider Torus and Brack Construction have started work on a scheme to build 26 new homes on the outskirts of Liverpool.
On what was previously the Fazakerley Car and Scooter Centre, Torus will offer 26 apartments and five houses all available under the Rent to Buy scheme at Longmoor Lane.
Rent to Buy allows working households to rent a home at 20% below the open market rent (also known as intermediate rent). This can provide the opportunity to save for a deposit to go towards the future purchase of a home.
Torus Developments’ first New Build scheme in Fazakerley is its latest development in north Liverpool, highlighting its ongoing investment in the area. It has already invested more than £70m in this part of the city.
Managing director, Chris Bowen, said: “This will go on to provide a number of affordable homes in a central location a stone’s throw away from key amenities.
“As an organisation, we are working through a programme of building more than 500 new homes in north Liverpool. Longmoor Lane is the latest in a long line of pipeline developments we are working to confirm and mobilise.
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“Over the coming five years, we will be investing more than £1bn into building new homes across the North West and north Liverpool is a key focus area for us.
Working with Brack for the first time, Torus aims to complete the development by summer 2024. Brack director Edward Brack, added: “Brack has completed over 100 units in-house.
“This is the first venture with Torus and hopefully one of many. We are excited to have commenced works on site, and we look forward to delivering much needed housing in the area.”