Housing Growth Partnership (HGP), the Lloyds-backed equity investor in the UK Living sector, has invested c. €20.7m of equity across seven housing schemes in the Midlands since the start of 2023.
HGP’s investment, alongside a diverse mix of established, local housebuilders, will enable the accelerated delivery of 557 much-needed for-sale and for-rent apartments and houses across the undersupplied Midlands region. The schemes, which are scheduled to be complete between Q3 2024 and Q4 2025, comprise a sustainability-led retrofitting of the former St. Mary’s Hospital in Melton Mowbray, Leicestershire - 41 houses and four apartments, delivered alongside Snowdon Homes; 37 and 166 apartments respectively in Birmingham city centre, with Rainier Developments and 10M; in Leicester city centre, 171 build-to-rent apartments, alongside Monk Estates; 21 homes in Sutton, Bedfordshire, representing a second transaction with Cora Homes; 47 new homes in Tansley Gardens, alongside Stancliffe Homes and a land purchase for c. 70 new homes in Derbyshire, in partnership with Cora Homes.
Mike Murphy, Investment Director for the Midlands at HGP, said: “Against a restrictive debt financing backdrop, the requirement from regional UK developers for funding solutions that enable them to grow their businesses and accelerate housing delivery has never been more acute. We have significant ambitions in the Midlands to continue expanding into different tenures. At the same time, these investments are aligned with our commitment to funding schemes which are delivering demonstrable environmental and social value.”
