Placefirst and Wain Homes agree forward-funded partnership to deliver 72 rental homes in Preston

  • Placefirst continues to grow its national portfolio, agreeing a forward-funded deal with housebuilder Wain Homes to deliver a mix of two- and three-bedroom single-family rental homes in Preston.
  • The homes form part of Phase 3 of The Paddocks masterplan, which will deliver 429 homes in total.
  • The wider masterplan is set to deliver more than 1,000 homes across five phases.
  • Homes are due to complete between January 2027 and January 2028.
  • The GDV for the scheme is £20.5 million.

23 July 2026: Developer-operator and BTR single-family 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 in Preston, Lancashire.

The deal marks Placefirst’s entry into the Preston market and will further strengthen its growing portfolio across the North West and the UK. 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.

The homes will be delivered to a high specification, with all properties heated by air source heat pumps (ASHPs) and built to an EPC B rating. This reflects both Placefirst’s and Wain Homes’ shared commitment to delivering energy-efficient homes designed to help reduce energy use while providing a comfortable living environment year-round. Homes will be completed in phases between January 2027 and January 2028, with a total GDV of £20.5 million.

The new development will provide high quality rental homes in a city with a growing population, which has increased over 16.3% over the last decade. This is driving demand for high-quality, professionally-managed rental accommodation, and a gap in supply that this development is designed to address. The new homes are also strategically located close to Royal Preston Hospital, one of the region’s largest employers, making them well-positioned to meet the needs of healthcare workers.

Wain Homes brings a strong track record of delivering high-quality homes across the North West, Severn Valley and South West, making it a natural partner for Placefirst as it continues to accelerate its national expansion. The partnership reflects a shared commitment to forward-funded deals as a mechanism to bring much-needed rental homes to market at pace with JLL advising Wain Homes on the deal.

As with all its schemes, Placefirst will provide a stress-free and enjoyable place for residents to live, by managing the whole process including design, lettings and maintenance.


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.”