Levenshulme Lands First Rent To Buy Scheme in Manchester

Good news for the development of Atlas Works by Mulbury. In collaboration with One Manchester it seems a portion of homes are going to be available in an affordable housing scheme, for people looking to buy a family or first home in the area of Levenshulme. The development is expected to be complete by Jan 2019.

One Manchester explains:

One Manchester has announced one of the first new rent to buy housing schemes in the city as part of a 64-home development on the site of a disused engineering works in Levenshulme.

 

Work will commence in April to provide 14 shared ownership and 50 rent to buy homes on the site of the former Atlas Engineering Works on Chapel Street, which has been derelict for several years, with Mulbury confirmed as the developer.

Housing provider One Manchester recently secured a £22.8m funding boost from the government’s Homes and Communities Agency (HCA) to build 765 affordable new homes in south and east Manchester over the next five years including homes for shared ownership and rent to buy.

Rent to buy is a new government scheme which allows people to rent a home at a discounted rate initially while they save the deposit needed to buy the home and One Manchester hopes the homes will help working people currently struggling to save the hefty deposits needed to buy a home, to get a foot on the property ladder.

The scheme will cater for singles, couples and families alike by bringing 28 two-bedroom apartments, 22 three-bedroom homes and 14 four-bedroom homes to the up and coming area.

This is potentially exciting news for the development and for Levenshulme. Many feared they would be purchased outright and rented out privately (at ever increasing rents!) so to have a scheme like this will ensure people are getting a fair chance to own their own.

David Wroe, of Mulbury, said:

“We’re proud to be working with One Manchester to bring forward this exciting development. We have a shared desire to improve neighbourhoods and create new housing opportunities.

By regenerating a site that’s fallen into disrepair, these homes will have a lasting positive impact on the local area.

“The homes will be modern in appearance but will complement existing housing in the area. The apartment aspect of the scheme also offers a fitting nod to the architecture of the former Atlas Mill for which this site is so well known.”

 

If you’re interested in one of these homes, place your enquiries with the team at One Manchester  enquiries@onemanchester.co.uk.

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