Lovell and Together Housing ink regional JV
The housebuilder and the housing association have formed a joint venture to address the shortage of homes in the North of England, starting with building the first phase of a project to deliver 650 units in Pendleton.
The 50:50 JV between Lovell Partnerships and Together Housing Group has been named Lovell Together. It aims to create communities and meet housing delivery targets across the North West, Yorkshire, Humberside and the East Midlands, with a target of building 3,000 new homes in the next five years, the companies said.
In the North West, the venture is close to submitting a planning application for the first joint phase of a 650-home residential development in Pendleton, comprising 127 two-, three- and four-bedroom homes on a site in Salford.
The whole Pendleton project aims to deliver energy-efficient affordable homes of all tenures over three phases, with work is scheduled to start on site in January subject to planning consent.
The JV also has planned developments across the rest of the North of England, totalling 600 homes across Holmewood, Chesterfield, Howden and Kirk Ella in East Yorkshire, and a further three strategic opportunities in the pipeline.
The companies said the venture “will enable both partners to share expertise and resources to identify and secure large-scale opportunities to develop high quality mixed tenure new homes.”
A significant portion of the new homes will be developed for shared ownership and affordable rent, to address the shortage of affordable housing across the North.
David Ward, managing director, North, at Lovell Partnerships, said: “We’re pleased to be joining forces with Together Housing to help deliver the high number of affordable homes required across the region.
“The combination of Lovell’s technical expertise and construction delivery record with Together Housing Group’s experience in the management and provision of affordable homes makes Lovell Together a really strong offering…and means we can deliver essential developments at an accelerated pace.”
Together Housing Group is a strategic partner of Government agency Homes England, with an allocated £53m of funding to deliver 1,150 new homes by 2025. The JV will help to achieve these targets and also increase future affordable delivery by ploughing profits back into its mainstream business.
Kevin Ruth, deputy chief executive at Together Housing, added: “Partnerships are an effective way of achieving our objective of increasing housing supply, and Lovell’s expertise will help us secure sites and deliver programmes across the North.”
Lee Sale, regional managing director at Lovell Partnerships North West, added: “We have a strong pipeline of opportunities that we are working to deliver across the North West region.”