Peel L&P has launched a new suburban build-to-rent company with properties to be let and managed by Liverpool-based property agency Redwing, part of The Regenda Group.

Letta will initially deliver 100 new family homes for market rent across two sites in Bolton and one in Ellesmere Port and has identified a pipeline of up to 1,000 homes that can be delivered over the next five years. All homes are currently being developed by Peel L&P’s homebuilder Northstone.

Homes available will range from two to four-bed properties, all with private gardens set within communities that are well-connected to green spaces and close to key transport links and sustainable travel routes.

The homes will be built across three sites: Glisk in Ellesmere Port and Silkash and Airie, both in Bolton.

Homes will be available to rent from November 2022.

Phil Wilson, Peel L&P’s executive director for land, communities and homebuilding and chief executive of Northstone, says: “The build-to-rent market has grown enormously, predominantly with successful city centre apartment schemes, however, following the pandemic and with the general pent-up demand from families also wanting to rent, we now see the opportunity to offer high quality and well-managed rental accommodation in our suburban neighbourhoods that suit their lifestyle changes and more agile working patterns.

“With excellent commuter routes to nearby towns and cities, Northstone’s homes are ideal for people wanting to move out of the city centre with the flexibility of renting at more affordable prices rather than buying.

“Our new partnership with Redwing offers a better choice of housing managed by a trusted landlord and the reassurance of a homebuilder that’s heavily invested in creating sustainable communities and we’ll look to scale up the number of properties over the next five years.”

Michelle Brooks, director of operations at Redwing, adds: “Redwing and Peel L&P have worked together on a number of exciting projects, including Plaza 1821 in Princes Dock in Liverpool.

“This new partnership will provide more high-quality, energy-efficient homes across the North West and we’re proud to partner with Peel L&P on this exciting new business.”

Letta is derived from the Old English term ‘Leta’ meaning ‘put to rent’, which follows Northstone’s naming strategy for its developments.

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