UK
Ireland
Scotland
London
Construction News
07/06/2018
Kier Forms JV With Homes England To Deliver 5,400 Homes
Kier Living has formed a new joint venture (JV) partnership with Homes England and Cross Key Homes to build up to 5,400 homes across the country.
Over the next 10 years, the partnership will supply mixed tenure housing projects for key geographical locations in England. The first four sites are to be developed in the West Midlands, an area identified as having a significant housing delivery shortfall;
• The Laurels in Tipton
• Meadowbank in Newcastle-under-Lyne
• The Orchards in Rushwick and;
• Chelmsley Lane in Marston Green.
The JV will invest in skills and new innovations throughout the lifetime of its partnership, with at least three new apprenticeships to be supported at each site and a minimum of 50% of labour employed from the local area. Homes England is also taking a 26% equity stake in the JV and will provide up to £27m in mezzanine funding from its £3 billion Home Building Fund.
In the future, Kier states the pipeline for additional sites is strong and modelled to grow to 18 trading sites, spanning the breadth of the country by the middle of 2020. Around 30% of all homes built will also be set at 'affordable' levels.
John Anderson, Executive Director of Kier Living, said: "This joint venture is an important new milestone, bringing Homes England, Kier and Cross Keys together in an innovative industry model.
"It is fuelled by the shared ambition of three like-minded organisations to bring forward development activity and get more homes built, against a backdrop of housing demand continuing to outstrip supply.
"Working collaboratively, we have the ability to embrace new ways of working, and to maximise our collective assets, resources and capabilities to deliver key developments that will provide new homes in areas of the country with the greatest housing need. And we will work in ways that will help to stimulate the local economy and to encourage individuals to explore a career in our industry."
Nick Walkley, Chief Executive for Homes England, said: "At Homes England, we're using our finance, land and expertise to get more homes built in areas of greatest need. Our innovative deal with Kier Living and Cross Keys Homes shows how we intend to form new kinds of commercial partnerships to increase housing supply, address affordability issues and generate value for the public purse.
"It's also hugely important that the JV will promote skills, modern methods of construction and a choice of tenures to give real choice to local people."
(LM)
Over the next 10 years, the partnership will supply mixed tenure housing projects for key geographical locations in England. The first four sites are to be developed in the West Midlands, an area identified as having a significant housing delivery shortfall;
• The Laurels in Tipton
• Meadowbank in Newcastle-under-Lyne
• The Orchards in Rushwick and;
• Chelmsley Lane in Marston Green.
The JV will invest in skills and new innovations throughout the lifetime of its partnership, with at least three new apprenticeships to be supported at each site and a minimum of 50% of labour employed from the local area. Homes England is also taking a 26% equity stake in the JV and will provide up to £27m in mezzanine funding from its £3 billion Home Building Fund.
-- Advertisement --
In the future, Kier states the pipeline for additional sites is strong and modelled to grow to 18 trading sites, spanning the breadth of the country by the middle of 2020. Around 30% of all homes built will also be set at 'affordable' levels.
John Anderson, Executive Director of Kier Living, said: "This joint venture is an important new milestone, bringing Homes England, Kier and Cross Keys together in an innovative industry model.
"It is fuelled by the shared ambition of three like-minded organisations to bring forward development activity and get more homes built, against a backdrop of housing demand continuing to outstrip supply.
"Working collaboratively, we have the ability to embrace new ways of working, and to maximise our collective assets, resources and capabilities to deliver key developments that will provide new homes in areas of the country with the greatest housing need. And we will work in ways that will help to stimulate the local economy and to encourage individuals to explore a career in our industry."
Nick Walkley, Chief Executive for Homes England, said: "At Homes England, we're using our finance, land and expertise to get more homes built in areas of greatest need. Our innovative deal with Kier Living and Cross Keys Homes shows how we intend to form new kinds of commercial partnerships to increase housing supply, address affordability issues and generate value for the public purse.
"It's also hugely important that the JV will promote skills, modern methods of construction and a choice of tenures to give real choice to local people."
(LM)
Latest Construction News
17/01/2025
Leeds Trinity University has officially opened its newly refurbished City Campus at 1 Trevelyan Square in Leeds.
Completed by GRAHAM Interior Fit-Out, the transformation of the central Leeds site introduces state-of-the-art facilities designed to improve learning and collaborate with industry partn
17/01/2025
Trammell Crow Company (TCC) has secured planning permission for a Grade A logistics scheme in Heywood, Greater Manchester, following a successful planning appeal.
The development will feature two state-of-the-art industrial and logistics buildings. One building will house two units measuring 4,796
17/01/2025
Poole-based developer AJC Group has celebrated a record-breaking 2024, delivering 100 affordable homes, a significant increase from the 72 units completed in the previous year.
Since 2023, AJC Group has completed and handed over 172 affordable homes across five sites.
In 2024 alone, the developer
17/01/2025
Plans for one of the most ambitious parks projects in London have taken a significant step forward, with Haringey Council securing nearly two additional acres of land around The Paddock nature reserve in Tottenham Hale.
The agreement with Thames Water marks a major milestone in the transformation o
17/01/2025
Islington Council has unveiled two draft guidance documents aimed at helping residents, businesses, and developers combat climate change by making buildings more energy efficient and fostering a greener, healthier borough.
The consultation seeks feedback on the draft Climate Action Supplementary Pl
17/01/2025
The City of Wolverhampton Council has unveiled a £98 million investment plan over the next five years to develop around 500 new homes across the city.
The proposal, part of the Housing Revenue Account (HRA) Business Plan, received Cabinet approval this week and now moves to Full Council for final
17/01/2025
Croydon Council has announced a significant milestone in the redevelopment of the Purley Pool site, with revised proposals submitted for a new leisure centre, later living housing, and the regeneration of the surrounding area.
A planning application for the site was initially submitted in 2024, pro
17/01/2025
The City of Wolverhampton Council has announced that demolition work has commenced on the New Park Village estate, marking the start of a major £40 million redevelopment project to transform outdated council housing.
Contractor DSM Demolition has begun pulling down poor-quality bungalows on Valley
17/01/2025
Hillingdon Council has acquired 12 new homes at Carpenters Court in Uxbridge.
Leader of Hillingdon Council, Cllr Ian Edwards and Cllr Steve Tuckwell, Cabinet Member for Planning, Housing and Growth, visited the site to officially mark the handover of the properties from local developer Kearns Devel
17/01/2025
Organisers of UK Construction Week (UKCW) have announced another major coup for the show's 10th anniversary year, with the news that UKCW London will be co-locating with the 14th edition of The Stone Show & Hard Surfaces, the principal industry event for surface design.
Established 26 years ago, th
