Latest News | 22nd June 2022

Kier Property and Housing Growth Partnership announce an £80m equity residential joint venture

Today HGP and Kier Property have announced a joint venture partnership to develop residential sites across the UK. The five-year deal, worth £80m on a 50:50 joint basis, will focus on residential developments on urban brownfield sites, initially across the South East of England.

The joint venture’s objective is to regenerate urban brownfield sites, delivering new homes connected to the needs of local towns and communities. The partnership will acquire sites with or without full planning permission and targets building 2,000 homes for sale and rental by 2027. It also evidences a strategic step-change for both Kier and HGP, with the partnership fulfilling Kier’s ambition to grow in the mixed-use regeneration space, while HGP will broaden its approach through larger transactions and strategic partnerships.

Leigh Thomas, managing director of Kier Property commented: “This partnership sits well with our five-year business plan to expand our offering in the mixed-use regeneration area.  It  will significantly augment our residential regeneration strategy and we have identified a number of sites that we plan to deliver through the partnership, where we can add value through the planning process.”

Rachel Miller, Investment Director at Housing Growth Partnership commented, ‘We are looking forward to working with Kier Property Development in this relationship which will see significant capital deployed to bring forward and develop an additional homes for rent and sale in areas with a shortage of supply. We will focus on urban brownfield sites and Kier share HGP’s ambition to create homes which are positive additions to existing places and communities.’

Vic Hepburn, CEO Housing Growth Partnership commented: ‘The partnership with Kier represents the next step in the expansion of HGP, so we can play as full a role as possible in supporting the UK’s diverse and evolving housing need as part of our commitment to help Britain prosper.

Kier Property is a specialist in investing, developing and managing developments in a range of sectors, building out a number of these through joint ventures.

 

© 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.