One of the country’s largest Build To Rent developers says it is specifically targeting certain tenant types for one of its biggest schemes.
Grainger claims that its 614-home Clippers Quay scheme in Manchester is affordable for households with an annual income of £27,000 - even though it features upscale elements such as co-working spaces, private dining room, a mini-cinema and a 24-hour gym.
Clippers Quay is the biggest purpose-built rental housing scheme of its kind in the country outside of London, and has five blocks of accommodation.
Prices for a one-bed apartment start at £900 pcm, with no service charge or lettings fees, and super-fast Wi-Fi also included.
Grainger calculates that if rent is to take up no more than a third of a person’s annual income, then households on £27,000 can afford this scheme; its promotional material also says that it’s within reach for teachers and nurses, who start on around £22,000, if they share with a friend or partner.
The corporate landlord runs a “stay as long as you want policy” with optional long-term tenancies.
The company’s schemes are managed by Grainger directly, with on-site management and concierge team.