£150m MADE partnership will seek to develop large brownfield sites and ‘garden villages’
Barratt, Homes England and Lloyds Banking Group have entered into a £150m joint venture to build out larger sites.
The trio have announced today they have launched a new company called MADE Partnership, which will act as master developer on residential-led developments of between 1,000 and 10,000 homes.
Housebuilding giant Barratt, government agency Homes England and funder Lloyds all own an equal share in the business, which Barratt has described as a “long-term partnership”. The business is initially backed by £150m in equity funding from the three organisations.
A spokesperson for Barratt said MADE Partnership’s potential development opportunities include large brownfield developments and ‘garden village-style communities’.
The launch of the partnership was welcomed by housing minister Matthew Pennycook.
Pennycook said: “The landmark new partnership announced today will support our commitment to ramp up housing supply and boost economic growth by developing more large-scale, attractive and sustainable places across the country with the homes, jobs and infrastructure that communities need to thrive.”
>>See also: Barratt officially takes ownership of Redrow shares
>>See also: Vistry set to unseat Barratt as country’s biggest housebuilder
>>See also: ‘Good, but not perfect’ – What next for Homes England?
David Thomas, chief executive of Barratt Developments, said: “Through the MADE Partnership, we are creating a master developer which can manage the infrastructure and placemaking that is needed to deliver at scale.”
Peter Denton, chief executive of Homes England, said: “Whether it’s transforming a brownfield site, extending an existing town, or creating a whole new village, the partnership will have the finance, tools, expertise and partners required to ensure a cohesive approach to delivering a fabulous place that people want to live and work.”
No comments yet