Placefirst and Wain Homes to deliver 72 new homes near Preston

Housing specialist Placefirst and housebuilder Wain Homes have agreed a forward-funded partnership to deliver 72 new two and three-bedroom single-family rental homes near Preston.

The homes will form part of Phase 3 of The Paddocks masterplan, which is set to deliver 429 homes in Higher Bartle, four miles from the centre of Preston. The wider masterplan will deliver more than 1,000 homes across five phases.

Homes will be completed in phases between January 2027 and January 2028, with a gross development value of £20.5 million.

Anna Hwang, chief investment Officer at Placefirst, said: “This deal marks Placefirst’s entry into the Preston market, where there is demand for high-quality rental housing. Partnering with Wain Homes, a housebuilder with a proven reputation for quality and delivery, gives us great confidence in the scheme’s future success. The Paddocks will provide attractive, energy-efficient homes and we look forward to welcoming our first residents in 2027.”

Richard Chamberlain, regional managing director at Wain Homes, said: "We’re pleased to be partnering with Placefirst on this forward-funded agreement at The Paddocks. It brings together two businesses with a shared commitment to quality, sustainability and creating homes that meet local demand. This partnership will help bring a range of high-quality rental homes to Preston, supporting the next phase of this growing community.”