UK’s largest open build-to-rent development outside of London targeting key workers and grads with accessible rents

• Grainger plc’s Clippers Quay is affordable to households with an annual income of £27k
• Clippers Quay’s 614 homes are all designed specifically for renting
• Residents have access to amenities, such as co-working spaces, private dining room, mini-cinema and 24-hour gym, included in rent

The UK’s largest listed residential landlord, Grainger plc, is promising Manchester’s key workers and young professionals high quality, accessibly priced apartments that have been specifically designed for renting.

Clippers Quay, a 614-home build-to-rent development, is the biggest purpose-built rental housing scheme of its kind in the country outside of London. The five-block apartment scheme boasts a range of on-site amenities including a 24-hour gym, cinema room, co-working zone and private dining room, which residents can use freely at no extra charge with the option to pay to reserve for private events. 

Grainger plc is targeting the mid-market, and apartments are affordable to young professionals and key workers sharing, requiring an average annual household income of £27,000. Prices for a one-bed apartment start at £900pcm, with no service charge or lettings fees, and super-fast Wi-Fi also included.

The £27,000 threshold – calculated at rent taking up no more than a third of a person’s annual income - makes an apartment at Clippers Quay affordable to sharers on a graduate salary (£20,870 in Manchester according to the Centre for Cities). They are also within reach for teachers and nurses, who start on c. £22,000, and are looking to share with a friend or partner.

Grainger plc are also hoping to encourage graduates who studied in Manchester to stay in the city by providing accessibly priced, quality rental homes, as part of its mission to help regional cities boost their student retention rate. Manchester currently retains 51% of its graduates but it lags behind London, which keeps 77% of graduates.

To give renters peace of mind, the corporate landlord runs a “stay as long as you want policy” with optional long-term tenancies. The company’s schemes are managed by Grainger directly, with on-site professional management and concierge team who help residents with everything from collecting parcels to fixing faults.

Helen Gordon, chief executive at Grainger plc, said: “The affordability and quality of housing in the UK remains a key issue, especially for renters. Grainger’s aim is to provide professionally managed, purpose-built, high-quality homes with a range of extra on-site facilities, such as gym, lounge and WiFi, free for all residents to use while still being affordable to people on ordinary incomes.“For many key workers in the public sector or young professionals who have just graduated, a good quality rental home close to work can often feel out of reach financially, pushing them to live further and further out, which harms productivity by forcing people into longer and longer commutes.”