LAR Housing Trust issues portfolio appeal to Lothian builders
A housing charity set up to help tackle a shortage of mid-rent homes across Scotland is issuing a fresh appeal to builders and developers in the Lothians to offer properties for sale to help it build up its portfolio of homes.
LAR Housing Trust’s first development was launched a year ago at Pinkie Mains in Musselburgh, but demand for mid-market rental properties in Edinburgh and the surrounding areas is still growing.
LAR chief executive, Ann Leslie, said: “The Aberdeen and Edinburgh areas were identified as the places most urgently in need of mid-rent homes when we launched and we have ten developments occupied or under construction already. Our aim is to target many places across Scotland, but pressure for affordable homes is still greatest across the Lothians.
“We need a steady supply of homes which are either completed, under construction or still at planning stage and I’d like to appeal to the developer community to come forward. Sites with as few as four homes or as many as 45 homes are of interest to LAR and in most cases house-builders standard house types meet our requirements.”
LAR aims to provide at least 1,000 affordable homes for rent over the next five years and is funded by a £55 million loan from the Scottish Government with private sector investment expected to lead to an overall funding package of over £100m.
LAR will be offering 1, 2 and 3 bed properties to tenants who struggle to find good quality, affordable private rental homes but who are unlikely to be able to access social housing. Properties sold to LAR could help developers meet their obligations to provide social housing.