New housing investment fund to be set in Manchester


A new joint venture company called Matrix Homes has been set up in Manchester with the clear purpose of bolstering house building in the area, a news report in the local business media can reveal.

Matrix Homes will join a partnership between Manchester City Council, Greater Manchester Pension Fund (GMPF) and the Homes and Communities Agency (HCA) in an effort to develop Manchester’s pioneering housing investment model.

The development model uses available land owned by Manchester City Council, including a site invested by the HCA, while an investor finances the build. The aim is to stimulate home building, while reducing the usual risks associated with a development – minimising the overheads for a contractor, who will also have no sales risk.

A tenure mix across five separate sites has been developed to ensure each location fits in to the property requirement for the local area – including owner occupation and private rented properties.

Matrix Homes includes the contractor Wates Living Space, with GVA providing technical advice, who will build the homes; Plumlife, who will be responsible for sale and marketing the for sale properties; and Places for People who will act as agent and manage the rental properties.

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