Kier launches JV housing model
Kier Living has announced a new joint venture model, called Northern Ventures, with the target of delivering 1,000 units a year within three years through agreements with a variety of social housing providers.
Kier said it intends to create long-term housing delivery partnerships between itself and housing associations in the North of England.
The first partnership is between Kier and Together Housing Group. The pair will develop mixed-tenure housing projects across the North West, Yorkshire, and the Humber, with the first new development site, for 113 properties for outright sale in Huddersfield, West Yorkshire also confirmed today.
A spokesman for Kier said: “The Northern Ventures model offers a full mixed-tenure development partnership, enabling registered providers with development aspirations and revenue needs to share activity, transfer risk and tap into Kier’s mixed-tenure development expertise, national presence and sales infrastructure.
“Unlike other partnerships, this JV is for multiple sites rather than a single-site partnership, meaning the JV can work together more collaboratively, harnessing regional expertise, investment momentum and innovation and developing a range of potential sites.”
Kier Living has put in place a specialist Northern Ventures senior team, led by Paul Moore, managing director of Kier Living North. Moore said: “We are looking at a joint venture model that provides a longer-term sustainable relationship with a three-to-five-year business plan, giving both partners diverse and sustainable benefits.
In May, Kier Living agreed to establish a long-term partnership with Lloyds Banking Group, the Homes & Communities Agency and investor Cheyne Social Property Impact Fund to deliver housing on local authority land.
