£30m bank support will enable build-to-rent specialist to deliver 319 homes

Salford-based build-to-rent developer, Placefirst, has secured a £30m funding package from NatWest to build 319 homes for rent across the UK by 2023.The funding package covers a three-year period and will be used to grow Placefirst’s existing portfolio of more than 1,150 rental properties.The finance will also support the company as it expands its workforce, with plans already under way to increase its existing workforce of 65 staff, with the addition of three property managers for its new developments.Placefirst’s developments are predominantly based across the North West, including sites in Leeds, Sheffield, Liverpool, Morecambe and Accrington.The next stage of business growth will focus on expanding across the UK, with plans in place for new units in Scotland.Placefirst is a pioneer in the fast-growing build-to-rent (BTR) market and specialises in both new build schemes and transforming existing neighbourhoods through innovative refurbishment, development, and a commitment to community placemaking.