Hecurl, a joint venture between developer and investor Hector Newton and fund and asset manager Curlew will build 150 one and two bed apartments at the site, all of which will be available for private rent.
It’s believed the development will be the first purpose-built scheme in Northamptonshire where 100 per cent of homes will be available for private rental.
Charles Amies , Head of South East Public Sector Land at Homes England said: “Our role is to accelerate the delivery of new properties on the land we own so more people can access the quality homes they need in the areas they want to live.
“We’re pleased to have agreed the sale of this well located site to Hecurl, especially as they’ve taken the innovative step of creating a development entirely available to people looking to rent a home. I look forward to seeing these new apartments form part of the wider regeneration of Corby.”
Athar Rashid, Managing Partner at Hecurl said: “We are delighted with the encouragement shown by Corby Council in supporting a Build To Rent development on this gateway site for the town.
“This flagship scheme will give local residents the opportunity to rent an affordable modern home, professionally managed and close to the town centre and local amenities.”
Paul Oliver, CEO of Curlew added: “We hope that this first deal with Homes England will help to speed the delivery of BTR assets for both occupiers and investors – a mutual objective for both organisations.”
Work on the new homes is expected to begin by Autumn 2019.