Scott Hammond’s new firm Eutopia Homes plans 500 units in Salford
Former Essential Living managing director Scott Hammond has unveiled a £365m residential development pipeline with his new venture, Eutopia Homes.
Hammond said the business now had plans for 500 homes to rent and buy in Salford, in addition to sites in Birmingham and Exeter that have already been unveiled. The £105m Salford scheme is split across two waterside plots in the Ordsall area of Salford.
Scott Hammond was co-founder of Essential Living, one of the UK’s first build-to-rent developers, and has set up Eutopia Homes to build mid-market houses across a range of tenures on sites close to transport infrastructure.
Eutopia’s decision to build schemes including a variety of housing tenures matches the conclusions of the Letwin Review into housebuilding delivery, commissioned by former chancellor Philip Hammond.
Hammond, who is chief executive of Eutopia Homes, said the UK’s regional cities were attracting investment thanks to rising graduate retention rates, improving culture and leisure scenes, and decisions by major corporates to move operations outside of London.
He said: “By creating mixed-tenure developments, we can help create genuine communities, accelerate delivery and de-risk development, while meeting a range of housing needs.”
The previously announced Exeter and Birmingham schemes include plans for around 900 homes for sale and rent, plus a retirement community, hotel and affordable workspace.
Architect Darling Associates is designing all three schemes. Tomas Pierce, director at Darling Associates, said: “Considerable investment is continuing to flow into build to rent, and the improving regional economy is supporting the housing for sale market across Manchester. Eutopia’s exciting blend of tenures and its focus on high quality design for the mid market is the right product for the right time.”
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