Latest News | 4th September 2023

Housing Growth Partnership invests c£18 million of equity to fund the delivery of 557 new homes in the Midlands

Housing Growth Partnership (“HGP”), the Lloyds-backed equity investor in the UK Living sector, has invested £17.7 million of equity across seven housing schemes in the Midlands since the start of 2023.

HGP’s investment, alongside a diverse mix of established, local housebuilders, will enable the accelerated delivery of 557 much-needed for-sale and for-rent apartments and houses across the undersupplied Midlands region. The schemes, which are scheduled to complete between Q3 2024 and Q4 2025, comprise:

  • A sustainability-led retrofitting of the former St. Mary’s Hospital in Melton Mowbray, Leicestershire, to deliver 41 houses and four apartments, alongside Snowdown Homes
  • 37 and 166 apartments respectively in Birmingham city centre, with Rainier Developments and 10M
  • In Leicester city centre, 171 Build-to-Rent apartments, alongside Monk Estates
  • 21 homes in Sutton, Bedfordshire, representing a second transaction with Cora Homes. The scheme will be partly delivered using Modern Methods of Construction, reducing carbon emissions and accelerating construction
  • 47 new homes in Tansley Gardens, alongside Stancliffe Homes
  • Land purchase for c70 new homes in Derbyshire, in partnership with Cora Homes

The Midlands is a key region for HGP, where it has been partnering with SME housebuilders since 2016. To date is has provided c. £37 million of equity funding across 20 schemes in both the East and West Midlands, of which over £26 million has been invested over the last two years. HGP’s equity funding is addressing an acute housing shortage in the Midlands, exacerbated by rising house prices and a shortage of good quality, sustainable homes.

Mike Murphy, Investment Director for the Midlands at HGP, said: “Against a restrictive debt financing backdrop, the requirement from regional UK developers for funding solutions that enable them to grow their businesses and accelerate housing delivery has never been more acute. We have significant ambitions in the Midlands to continue expanding into different tenures. At the same time, these investments are aligned with our commitment to funding schemes which are delivering demonstrable environmental and social value.”

© 2024 Housing Growth Partnership. All Rights Reserved.

Housing Growth Partnership Manager Limited, 25 Gresham Street, London, EC2V 7HN, Registered Company Number 09507116, registered in England and Wales.

Authorised and regulated by the Financial Conduct Authority, firm reference number 709515

Ensuring an inclusive environment for our colleagues and communities

A key part of how we seek to deliver our purpose is to strive to create a fully inclusive environment for all our colleagues, partnerships and communities, one that is truly representative of modern-day Britain. Quite simply, a more inclusive society is a more prosperous society, and a diverse business is a better business. That means that we also speak up and act when something feels wrong – for example, we know it’s not enough to simply not be racist, we need to find ways where can be actively anti-racist by providing allyship to our partners and colleagues. We’re an anti-racist organisation and do not tolerate hate. We will take action against discrimination and inappropriate behaviour, whether racist, sexist, homophobic, transphobic or ableist, regardless of whether this happens in our offices, over the phone or online on our social media channels. Quite simply, we believe in doing the right the thing. We know we won’t always get things right ourselves, but we are committed to always striving to do better, for our colleagues, partners and communities.

Investment Disclaimer

The information, commentary and other materials in this website (“Content”) is intended to describe the activities of Housing Growth Partnership Manager Limited (“HGP”) and does not make any offer, inducement or invitation and does not give rise to any obligation or commitment. The Content is intended to be communicated only to persons who are legally able to receive it in their jurisdiction of residence. HGP invests its own money and no person, whether or not involved in a transaction with HGP, should expect to be treated as a client of HGP and no employee or other person associated with HGP has the authority to represent or state otherwise. HGP will not provide any investment services to any person, and/or advise any person on the merits of, and /or make any recommendation to a person in relation to, the terms of any transaction. Therefore, HGP does not take responsibility for providing you with the protections that would be afforded to a client and you should seek your own independent legal, investment and tax advice as you see fit. The Content does not provide any representation or warranty or achievement of any future gains, express or implied. HGP does not accept and, to the extent permitted by law, excludes liability to any person for any loss or otherwise that may arise from relying upon or using the Content of this website.