Lease cap move opens door for homes boost
The government is easing the terms of a social housing incentive scheme, in the hope of encouraging pension funds and investment capital groups to deliver hundreds of homes for local authority tenants.
The Department of Housing has decided to abolish a cap on the length of lease permitted under the “leasing initiative for the delivery of social housing” following a review by junior minister Damien English.
An earlier version of the scheme attracted 24 expressions of interest, including a €100m proposal from Bartra Capital, an investment vehicle set up by Richard Barrett, the former Treasury Holdings partner. None of the projects progressed.
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