Construction has begun on Phase 2 of the PRS delivery partnership with Gatehouse Bank. Phase 2 will deliver c.900 new PRS homes in the North West at a total cost of £114m. In excess of £200m of development is now underway with Gatehouse, targeting a £1bn investment over 5 years. New sites are being sought in the Midlands and South of England. Phase 2 has been initiated in-line with our expectations (H2’15). We have left our forecasts unchanged and refer to our previously published 150p/share int ....
