Leading national housebuilder Lovell Partnerships and Together Housing Group have joined forces to create Lovell Together LLP, an innovative joint venture to tackle the housing crisis across the North of England.
The new joint venture has been formed in equal partnership and will create much needed quality developments, form new communities and meet housing delivery targets across the East Midlands, Yorkshire, Humberside, and North West regions.
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 delighted to be joining forces with Together Housing to help deliver the high number of affordable homes that are 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 unique offering. Such a large scale and innovative partnership means we can deliver essential developments at an accelerated pace.”
Together Housing Group is also a Homes England Strategic Partner, with an allocated £53m of funding to deliver 1,150 new homes by 2025. The joint venture will help achieve these targets, with the goal set at 3,000 new homes in the next five years. The aim is also to increase future affordable delivery, so all profits will be ploughed back into its mainstream business.
Kevin Ruth, deputy chief executive at Together Housing, said “It’s great news that we can collaborate with Lovell Partnerships in this way. Partnerships are an effective way of achieving our objective of increasing housing supply. Lovell’s expertise will help us secure sites and deliver programmes across the North.
The joint venture has already secured several developments across the northern region. In the East Midlands, Yorkshire and Humberside regions it is expected to bring more than 600 brand-new homes to Holmewood, Chesterfield, Howden and Kirk Ella in East Yorkshire, with a further three strategic opportunities in the pipeline.
In the North West, the joint venture is close to submitting the planning application for the first joint phase at Pendleton, Salford, one of the largest strategic residential regeneration projects in Greater Manchester. The development is expected to deliver 127 new two, three- and four-bedroom homes with a planned start date on site of January 2021.
Lee Sale, regional managing director at Lovell Partnerships North West, said: “Creating this strategic partnership was the next organic stage of our long and trusted relationship with Together Housing Group.
“We have a strong pipeline of opportunities that we are working to deliver across the North West region. The first is Pendleton Salford where the project will see 650 new energy efficient affordable homes of all tenures delivered over three phases and is due to commence Q1 2021.”
In Lovell Eastern, Robert Adams, regional managing director, said: “The Eastern region of Lovell has already worked with Together Housing Group on numerous projects and we’re confident that the new partnership will allow us to deliver this ambitious development programme to the highest possible standard.
“We’re thrilled to have been given the go-ahead to start work on an initial 156 properties at the first project in Holmewood, Chesterfield, with work expected to commence later on this month.
“It’s proven that we can achieve more by working in partnership with like-minded organisations, with this venture helping us to deliver much needed housing and benefit communities across the Eastern region.”
For further information about THG visit https://www.togetherhousing.group/