HM Government has announced a further allocation to its Strategic Partner Torus with the North West landlord receiving £350 million in the Social and Affordable Homes Programme (SAHP).

It will see Torus build 2,865 homes across Merseyside and Cheshire over the next five years.

The funding comes from an initial allocation of £10 billion of the government’s £39 billion SAHP announced by ministers today (Tuesday 25 August).

Torus will take a balanced approach to delivery with around a third of the homes delivered by its in-house contractor, HMS.

The remainder will see a mixture of large-scale builders and also regional SME construction firms employed to maximise economic benefits in local areas.

Torus is aiming for over 50% of properties to be EPC-A rated and 60% to be built using modern methods of construction.

Social rent will make up 60% of the programme tenure.

Chief Executive of Torus Group, Steve Coffey, said:

“Being named a Strategic Partner status is fantastic news as it guarantees £350 million of funding to build over 2,800 homes in the early years of the programme.

“Coupled with the investment we will make, it unlocks over £1bn investment in affordable housing in Merseyside and Cheshire.

“We have a big appetite to build new homes at scale and we don’t view this as being overly ambitious; we think it is pragmatic given our track-record and it is just the start.

“When we have delivered the new homes made possible by this allocation we will be looking for further funding as the need is great and our ambition is significant.

“The only way we will make a meaningful dent in ever-growing housing waiting lists is by delivering at this level over a sustained period.

“To do this, partnership working is vital and we will continue working closely with regional mayors and local authorities to identify the best sites, bring them forward at pace and receive planning approval as quickly as possible.

“We’re really pleased our approach aligns with the Mayor of Liverpool City Region which is one of the key areas we have identified for the homes.”

Steve Rotheram, Mayor of the Liverpool City Region, said:

“Council housing is personal to me. I grew up in a council house in Kirkby, and I know what that security meant to my family. It gave my mum the chance to give us a stable start in life, without constantly worrying about keeping a roof over our heads. Every family deserves that same security.

“But we simply haven’t built enough council and social housing in this country. The consequences are all around us - families stuck on waiting lists, children growing up in temporary accommodation and young people wondering whether they’ll ever afford a place of their own.

“We’re starting to turn that around. Since I became Mayor, we’ve helped to build more than 36,000 homes and, with the £380 million we’ve secured, we’ll help to build another 3,000 more - giving thousands of people the chance to put down roots, raise a family and build a life.

“We know our communities better than anybody in Whitehall ever could. We know where homes are needed and what local people want - good-quality, genuinely affordable homes, built in the right places.

“I want the Liverpool City Region to be at the forefront of the biggest revival in council housebuilding in a generation. We’ve spent decades talking about the need to build more council homes - now we’ve got a real opportunity to get on and do it. I want to see cranes in the sky and spades in the ground, getting on with building the homes our communities need.”

Torus says it is perfectly placed to deliver for future and existing tenants.

“Recently receiving C1 status alongside V1 and G1 gives us the confidence and comfort that we have a balanced approach,” adds Mr Coffey.

“It’s not all about new homes, we are investing extensively in our current stock for existing tenants and neighbourhoods too while also preparing for the future by focusing on economic growth in our localities.”