Lovell and L&G join forces to build 3,000 homes

Grant Prior 3 years ago
Share

Lovell Partnerships and Legal & General Affordable Homes have joined forces to deliver a target of 3,000 multi-tenure properties across the next five-years.

Legal & General will focus on delivering new affordable homes, including shared ownership, social rent and affordable rent, and Lovell is bringing its open market and build expertise across all tenures.

Both organisations are looking to maximise opportunities for suburban build to rent, later living and off-site manufacturing across the programme.

The first scheme for the partnership will be The Junction – a brownfield site which has lain empty for 20 years in Oldbury in the West Midlands.

The development will deliver 234 energy efficient new homes of which nearly 50% will be for affordable housing via Legal & General with the remainder for open market sale by Lovell.

Mary Parsons, regeneration & partnerships director for Lovell Partnerships, said: “There is strength in partnership and collaboration – this approach is essential to meet the ambitious growth and sustainability goals of Lovell and Legal & General, as well as to support local authorities in the face of high demand for quality homes.

“Our work with Legal & General will mean sites are identified quickly with a combined pool of knowledge to then offer the optimum mix of tenures to drive both commercial and social value.

“Our aim is to invest for the long term and create not just the highest quality homes, but great places to live. This is already being demonstrated at our Fountain Lane development in Oldbury, now known as The Junction.”

Anette Simpson, director of development and partnerships at Legal & General Affordable Homes, said: “Since launching three years ago, Legal & General Affordable Homes has deployed institutional capital at scale delivering affordable homes across the country. Our development pipeline is now over 7,000 homes.

“Our new partnership with Lovell is a great example of how we collaborate with successful and ambitious partners to bring forward more affordable housing, combining resources to accelerate the delivery of derelict sites and make a real impact on housing provision.

“The Junction is an exemplar scheme to launch our partnership with Lovell, creating high quality homes which will have a significant social impact for the community of Oldbury.”

Latest news

Kier wins first phase of £700m Warwick Uni campus build

Firm to start work on science and engineering precinct last this year
8 hours ago

Torsion and Khalbros to build new Leeds £1bn neighbourhood

Eastgate Quarter site acquired from Hammerson
9 hours ago

JCB to double size of US factory in wake of Trump tariffs

$500m Texas factory under construction to expand to 1m sq ft
9 hours ago

Green light for £2.4bn Luton Airport expansion

Government go-ahead to transform airport
10 hours ago

Diversification pays off for concrete frame specialist Statom

Strong results as £180m turnover firm expands into infrastructure sector
11 hours ago

Cardo in talks to buy Breyer roofing arm

More than 100 jobs could be saved at Breyer Roofing
17 hours ago

Quartet win £750m Wales & Western railway deal

Network Rail confirms partners for Reactive and Minor Works framework
16 hours ago

Plans in for £350m London Bridge life sciences hub

Snowsfields Quarter will consist of three buildings containing labs
17 hours ago

Surging labour costs push tender price forecast up

Pick-up in tender prices despite weak growth
17 hours ago

Permasteelisa wins cladding deal on Multiplex city tower

Facade specialist wins work on Fenchurch Street ‘hanging gardens’ tower
17 hours ago

Wates wins fit-out for Manchester First Street Hub

Smartspace arm secures another Government hub deal
2 days ago

Peel Ports reveals winners for £750m framework

18 firms win places on deal: Full list
2 days ago

Big trade names dropped in M Group rebrand

Acquisitive group formed from Morrison Utility services in 2016
1 day ago

Breyer Group files administration notice

Staff hope rival firm could buy assets and save jobs
2 days ago

Former Severfield director takes helm at Embrace Steel

New CEO Martin Kelly aims to step up expansion of steelwork contractor
2 days ago

£302m upgrade funding awarded to FE colleges – list

Cash shared out between England’s 179 college groups
2 days ago

FK Facades thrives but construction arm hit by ISG row

Dispute with failed contractor costs specialist £5.5m
2 days ago

Galliford Try gets go-ahead for Milton Keynes PRS tower

33-storey tower needs gateway 2 approval before work can start
2 days ago

Small house builders get £150m funding for green homes

Developers will have to meet-up to ten new criteria to benefit from interest rate discounts
2 days ago

Lendlease Construction renamed Bovis

US private equity firm completes £35m purchase of UK contracting business and rebrands
3 days ago

Breyer Group battles for survival as rivals circle

Housing maintenance firm fights three winding up petitions in a month
3 days ago

Careys facing £2.4m claim by developer over demolition cartel

Giant Hong Kong developer claims it was overcharged on Lots Road Power Station job
3 days ago

Multiplex profit drops a third as revenue rises to £780m

Spate of new orders sets contractor up for three years of work
3 days ago

Galliford Try and Breheny land latest Sizewell C road deals

More infrastructure deals for new nuclear power station
3 days ago

Worker trapped in collapsed septic tank pit

Contractor and director fined after worker suffers multiple fractures
3 days ago

Homes England buys stalled Broad Marsh site

Demolition to finally be completed as developer hunt begins
3 days ago

Vistry go-ahead for 353 homes at Rochester Riverside

Work to start on next phase of Kent town regeneration at end of this year
4 days ago

M&E firm J S Wright collapsed owing £19m

Trade creditors hit for £11.4m by employee-owned Midlands firm
4 days ago

Right to work checks to be extended to self-employed

Government plans crackdown on illegal working and rogue employers
4 days ago

Midlands developer turns to London with £1bn resi schemes trio

SevenCapital plans 1,000 flats in Kensington, Islington and the Isle of Dogs projects
4 days ago

Contractor services