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TODAY'S OTHER NEWS

'Stay as long as you want' tenancies for key workers and graduates

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.

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