The Peel Group and Barratt Homes have announced the formation of a strategic partnership to bring forward new housing development on a number of residential sites owned by Peel in the North West and North East of England.
Both companies have entered a framework agreement which initially will cover 80 acres on six unnamed sites with the potential for over 1,000 new homes to be built over the next five years with an end value approaching £200m.
Barratt Homes' Manchester division will shortly be submitting detailed planning applications on two sites in Wigan and south Liverpool for almost 500 houses, with additional sites in Greater Manchester, Cheshire and south Yorkshire to follow once technical assessments have been concluded.
Barratt Homes and Peel could not immediately disclose further details of the sites when contacted by Place.
Louise Morrissey, director of land and planning for Peel Land & Property, said: "Our agreement with Barratt Homes represents a new way forward during these times of recovery for markets generally and the housebuilding industry in particular. The goal is to bring forward our residential sites and deliver quality new family homes which we know Barratt Homes will do."
Neil Goodwin, managing director of Barratt Manchester, added: "This strategic alliance continues with the excellent relationship established over many years between Peel and Barratt Homes. The two companies share a common vision for the revitalisation of our economy and our markets by the provision of much needed new housing. The Coalition Government's growth agenda and new planning initiatives will be powerful incentives to drive the very early delivery of new homes on these sites. We hope to be selling from the first two sites in time for spring and summer next year."