Capsticks advises major North West affordable housing provider on joint venture to develop its largest ever site

Of those homes on the 170-acre Peel Hall site, 595 of which will be affordable, acquired by Torus’ registered provider organisation.

The site is the biggest in the North West, acquired from Satnam Investments for a total of £112m, split across the various parcels of the site and acquiring entities.

The scheme is projected to contribute more than £150m to the local economy as well as improvements to infrastructure.

It is the largest site Torus has undertaken, to date, and is expected to contribute significantly towards Torus’ plans to create 5,600 homes by 2026, a development programme worth £1bn.

Jen Hankinson, Partner in Capsticks Housing and Regeneration team in the North West, led the project representing Torus’ interest in the acquisition.

Hankinson said: “We are very proud to have been part of such a momentous project with Torus. In helping facilitate the building of 1,200 homes, Torus have not only contributed significantly to the economy of Warrington but also will provide almost 600 much needed affordable homes for the community which will make a significant difference to the area.

“Chris Bowen, Claire Smith, Aimee Roberts, Peter Fieldsend, Allen Barber, and Catherine Fearon were essential to finalising this deal. Without theirs, and Steve Coffey’s (Chief Executive of Torus), determination together with the support of Torus’ board members and Stephen Blake Consultancy, we wouldn’t be bringing these affordable homes to a community that needs them.”

Chris Bowen, Managing Director at Torus Developments, said: “This is a much-needed project which will provide nearly 600 new affordable homes in North Warrington and add to affordable supply in an area of high demand, strengthening the local community. We are really proud to be part of this landmark project in the North West and thank Capsticks for their support.”