Deals round-up: October 2023

M&G, Hyde, CHP and PPHA

 

Investment giant M&G has struck deals worth a combined £62.7m to acquire 370 shared ownership homes through a trio of partnerships with registered providers.

 

The deals, made on behalf of the M&G Shared Ownership Fund, have been struck with the Hyde Group, CHP and HSPG-backed Park Properties Housing Association (PPHA).

 

As part of the tie-ups, M&G will directly fund the development of new homes or buy existing and pipeline stock.

 

The aim is to allow the registered providers to recycle capital into new homes and further affordable housing initiatives.

 

CHP, Hyde and PPHA will continue to manage the properties on behalf of M&G.

 

Great Places, Countryside and Sigma Capital

 

Countryside, in partnership with Great Places Housing Group and developer Sigma Capital, has started work to deliver 365 new homes in Greater Manchester. 

 

Of the homes in Fitton Hill, Oldham, 81 will be affordable (managed by Great Places) and 97 will be build-to-rent homes under Simple Life, Sigma’s private rental brand.

 

Platform and Keepmoat

 

Platform Housing Group has partnered with house builder Keepmoat Homes to deliver 319 affordable homes in Nottingham.

 

The site at the Boots Enterprise Zone in Beeston is part of a phase of a wider development, where 600 homes will be built in total.

 

Redrow

 

House builder Redrow has secured planning consent for 231 new homes as part of the first phase of its latest development at Abbey Creek in Faversham.

 

Over a third (35 per cent) of the homes will be affordable. The 31-acre site will initially provide 231 two, three and four-bedroom homes and the proposal for the second phase will include plans for a further 60 homes.

A2Dominion and The Hill Group

 

A2Dominion and house builder The Hill Group has celebrated the topping out of Ivy Lane, a residential development in Oxford that will deliver 125 homes in total for key workers.

 

Ivy Lane, which is due for overall completion in early 2026, will replace Oxford University Hospitals NHS Foundation Trust’s former accommodation with seven new buildings, ranging in height from three to five storeys.

 

Overall, the development will include 125 homes comprising 68 flats and 57 shared accommodation units, each with four or five bedrooms with en-suite bathrooms and a communal kitchen, providing capacity for over 340 key workers.

 

The first block, which is expected to complete next summer, will contain nine shared accommodation units.

 

Jigsaw Homes Group and MCI Developments

 

Jigsaw Homes Group has partnered with MCI Developments, a Keepmoat subsidiary, to deliver 106 affordable homes in Lancashire, in the North West.

 

The 9.56-acre site in Poulton-le-Fylde, south of Brockholes Crescent, will provide the area with a mix of two, three and four-bedroom homes through affordable rent and rent-to-buy schemes.

 

Jigsaw secured grant funding from Homes England to support the delivery of the scheme. The new homes are due to be completed by 2026.

 

Accent Housing

 

Accent Housing has completed 75 affordable homes for rent in Hempsted in Peterborough.

 

The homes are a mix of one to four-bedroom properties. Construction finished this month, and over 60 families and couples have moved in.

 

Orbit Homes

 

Orbit plans to deliver 50 energy-efficient homes in Norfolk, which will be its first development in the region to use air-source heat pumps.

 

Liberty Park in Rackheath will feature 23 shared ownership and 27 affordable rent homes, ranging from two to four bedrooms. Enhanced cavity insulation will also be installed in the homes.

 

A show-home launch will take place in January and the first completions are expected next spring.

 

Notting Hill Genesis and The Hill Group

 

Notting Hill Genesis and The Hill Group have completed the handover of the next phase of the Lampton Parkside development in Hounslow, west London.

 

The latest phase of the scheme comprises 42 homes exclusively for affordable rent. The one, two and three-bedroom flats are across five storeys and all homes will be allocated to families on the council waiting list.

 

The scheme is due to complete in 2030 and will provide 780 new homes, including 257 affordable homes and 523 private sale properties.