More new homes for Greater Manchester

Developments on the St Stephen’s Church site in Hyde, Northenden Road in Sale, and Islington Wharf in Manchester will be given £20m worth of loans from the Greater Manchester Housing Investment Fund.

Cllr Richard Farnell, GMCA lead on Planning and Housing, said: “Investment in new housing is investment in Greater Manchester’s economy, providing much-needed quality housing for our residents and workers while supporting local house builders.

“The Greater Manchester Housing Fund has provided us with the tools to kickstart new developments, with more than £100m now committed. We’re pleased to be able to support these three schemes, highlighting the importance of taking decisions locally for the benefit of local people.”

Mike Hampson, Director, Nook and Key Ltd, said: “The Greater Manchester Housing Investment Fund is helping to boost home building across Greater Manchester, supporting local house builders like ourselves. We’re pleased that Greater Manchester’s leaders are supporting the development of this scheme, which will bring this former church site back to life, providing quality homes for local people.”

The Greater Manchester Housing Fund was established as part of Greater Manchester’s devolution deal to provide investment that could kickstart stalled housing projects and support developers in delivering new homes across the city region. The Housing Fund has already committed more than £100m in housing projects across Trafford, Oldham, Manchester, Bury and Salford.

This latest investment of almost £20m, which is subject to due diligence, includes:

£2.5m to Nook and Key Ltd for the refurbishment of St Stephen’s Church in Hyde to create 16 apartments and build a further 14 houses on the surrounding site.

£6.9m to Azar Estates Ltd to build 24 houses on a site on Northenden Road, Sale.

£10m to Waterside Places for 89 apartments and 12 townhouses at Islington Wharf, Manchester.