Under the model, QSH has purchased eleven properties, including nine affordable homes and two homes for a rent to buy scheme, which it make available at an affordable rent without any Government subsidy. QSH will then broker deals with institutional investors seeking long term rental income.
Wates Living Space, which last month announced it had invested £1m into QSH, will be QSH's lead partner on all future schemes involving the construction of new homes. The homes will be managed by management organisation Kirklees Neighbourhood Housing.
According to the reports, QSH has said that 21 local authorities and housing associations have approached the company with a view to using the model for the funding of around £320m of properties.
QSH's chief executive Paul Hardisty said that the company had received "huge interest" from institutional investors and that it could now match this with "the long term property needs of local authorities and housing associations".
"Wates Living Space is extremely pleased to have joined forces with QSH to offer an innovative funding and delivery model which will enable QSH to provide thousands of affordable homes through both new-build and bringing the country's empty homes back into use," said Wates Living Space managing director Andy Hobart in a statement when the £1m investment was announced.
