Liverpool affordable housing provider Torus strikes £35m deal with housebuilder Northstone for 163 new homes at two locations. Tony McDonough reports
A £35m deal between Liverpool-based affordable homes provider Torus and housebuilder Northstone will see 163 new homes built in Ellesmere Port and Wigan.
Torus will deliver 75 homes at Glisk in Ellesmere Port and 88 homes at Tulach in Wigan. All homes being available for Affordable Rent or Shared Ownership.
Affordable refers to rent or sale price that is no more than 80% of local market rate. Under shared ownership you buy a share of between 10% and 75% of the value and pay rent to a landlord on the remaining share.
Chris Bowen, managing director at Torus Developments, said: “As a developer, we know how effective long-term trusted relationships with partners are to building homes and communities.
“Through working with Northstone, we are able to not only expand our development programme, but our geographical footprint, and give even more people the chance to benefit from affordable housing provision.
“As the largest provider of affordable homes in the North West, we want to continue creating more mixed tenure schemes outside of our traditional areas of Liverpool, St Helens and Warrington.
“Given the housing and cost of living crisis impacting us all, I’m thrilled to be part of a team that is working to create sustainable solutions to these national challenges and be leading the way in creating communities that meet multiple needs.”
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Jo Allen, partnerships director at Northstone, added: “The nationwide housing shortage and recent financial pressures means it’s been a challenging time for house-hunters.
“Now more than ever, people need more choice when they’re weighing up their housing options. Working with Torus we’re broadening the options at our communities in Wigan and Ellesmere Port, creating genuine mix-tenure communities with a trusted partner.”