Isle of Man-based Dandara Group has won a major UK property award for its project to deliver 2,000 new private rental sector (PRS) homes in England.

Dandara’s planned development across Manchester, Leeds and Birmingham has been named PRS Deal of the Year at Property Week’s RESI conference and awards, one of the UK’s most significant industry events.

With an estimated value of around ?400million, Dandara Group’s projects to deliver vital new homes in prime city centre locations attracted financial backing from the Homes and Communities Agency’s Home Building Fund and HSBC, and are expected to create up to 1,500 new construction jobs.

Providing residents with a wide range of on-site services, the three developments will be managed by the company’s dedicated lettings and management subsidiary, Dandara Living, using established teams based at each site.

Staff at Dandara’s headquarters in the Isle of Man have been working on the project for several months and will have major roles in key elements of the developments as they move towards the planned completion date of December 2019.

Dandara Managing Director Seamus Nugent said: ‘With construction of these three major city developments now moving forward, this award is superb recognition of the collaboration and planning which goes into delivering projects of this scale and complexity.

‘These homes will significantly increase the attractiveness of three of the UK’s major growth centres outside of London by providing modern, affordable places to live in prime city centre locations where high quality new homes are in short supply.

‘There is increasing recognition of PRS’s emergence as a distinct asset class and the important contribution it can make to meeting the challenge of delivering the volume and high standard of homes for a new generation of workers who want to live and work in the UK’s major cities.’

The projects also include significant contracts for Galliford Try, Interserve, Sir Robert McAlpine and their subcontractor supply chains, creating and preserving jobs in key locations across England.

Dandara has built more than 2,500 PRS homes in the last 10 years in the UK, including one of Scotland’s largest PRS schemes of almost 300 properties in Aberdeen, acquired by LaSalle Investment Management on behalf of a large pension fund.

Dandara Group’s professional services advisers on the projects were lawyers Addleshaw Goddard, Knight Frank and Greyfriars Strategic Financial Advisers.

The RESI Awards, organised by Property Week, is now in its sixth year and celebrates the residential property market and its successes of the past year. The awards ceremony is an extension of the RESI conference, held annually in London.