Latest News | 26th October 2021

Briar Homes agrees £10m funding package with Housing Growth Partnership

Briar Homes is to become one of the first UK housebuilders to be supported by a Regional Growth Initiative (RGI) from Housing Growth Partnership (HGP) which forms part of the social impact investor’s newly created £300 million property fund.

(From left) Scott Sanderson, HGP; Ian McGarvey, Briar Homes; Ross Baird, HGP; Paul Kelly, Briar Homes and Collin Bennet, HGP

The RGI is a four-year commitment that will see HGP investing up to £10m of equity alongside Briar, targeting new sites for family housing in locations across Central Scotland, with a particular focus on Glasgow and the surrounding commuter belt.

Colin Bennett, HGP investment director for Scotland, said: “We are delighted to support regional housebuilders like Briar Homes, which have the ambition to provide much-needed new homes and also to give those searching for a new property more options beyond a market dominated so heavily by PLC housebuilders.

“Our relationship with Briar goes back some years in fact. Being part of the AS Group, a family owned and operated business, we first invested alongside AS Homes in 2016 supporting its entry back into the private development market and they created an incredible location at Broomhouse.”

Since 2016, HGP has provided Briar with equity investment of £3.6m across two development schemes, delivering over 100 units and assisting with the company’s ambitious growth plans. With the implementation of the RGI partnership, HGP aims to support the development of up to a further eight sites and over 400 new homes.

Paul Kelly, managing director of Briar Homes Ltd, said: “The support we have received by working in partnership with HGP over the past four years is key to our continued growth. We are delighted to be signing up as their first ‘Regional Growth Initiative’ partner in Scotland, with an initial £10m funding commitment over the next four years. This allows us to focus on building high quality, architect-designed homes in sought after locations.

“The funding partnership is vital to our aim of creating new homes to exacting standards. The first development funded through the RGI of 35 homes at Dealston Road will offer buyers a higher specification as standard and will create a new community within the popular town of Barrhead, Glasgow.”

Colin added: “Briar’s focus on high quality, good value homes epitomises the value that small and medium-sized housebuilders bring to their local communities.

“Our joint discussions around how HGP could better support their plans for the future helped us shape the RGI as a proposition, and we are delighted to be providing long-term support to the business through the newly created £300m fund.”

If you are looking to create a partnership with Housing Growth, get in touch today.

© 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.