Rental construction developer Placefirst gets £ 30million raise to expand in UK
A Salford-based rental construction developer has secured a £ 30million raise from NatWest to build 319 houses for rent across the UK by 2023.
Placefirst’s funding boost will be used to expand its existing portfolio of over 1,150 rental properties.
The funding will also support the company in developing its workforce, with plans already underway to increase its current number to 65 employees, with the addition of three property managers for its new developments.
Placefirst’s developments are primarily based in the North West, including sites in Liverpool, Morecambe and Accrington, as well as Leeds and Sheffield.
The next step in the company’s growth will focus on expansion across the UK, with plans in place for new units in Scotland.
Nichola Halverson, Director of Placefirst, said: “Our goal is to professionally design, build, manage and maintain neighborhoods, putting the needs of residents at the heart of everything we do.
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“We believe that there is a better offer when it comes to renting a home and we are committed to providing a real alternative to home ownership.
“NatWest’s funding program will allow us to expand our work of transforming and building vibrant communities in the Northwest and across the country.
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“From our developments thus far, we have been successful in seeing communities thrive and develop through the quality and imagination we bring to every build and the high levels of ongoing service we are able to deliver. to all residents. “
Paul Mercer, Director of Relations with NatWest, added: “We have worked with Placefirst since its inception in 2010 and as a result we have built a very strong collaborative relationship.
“The latest funding program will allow the company to grow and build on the community-driven developments it has already created in the Northwest.
“We are excited about the prospect of similar developments transforming different regions in the rest of the country.”