Kier partnership looks to exploit government house-building drive
Kier Living has set up a new operation to offer cash-strapped local councils and housing association a way to develop their land.
Kier Living has launched a £1bn housing delivery fund in partnership with the Cheyne Social Property Impact Fund and the Housing Growth Partnership (a joint venture between the Homes & Communities Agency and Lloyds Bank). The aim is to help the public sector build 10,000 new homes across the UK, taking advantage of the government’s new £3bn Home Builders Fund, announced by communities secretary Sajid Javid just this week.
Kier Living executive director John Anderson said: “We very much welcome this government commitment to housing delivery and the demonstration that it is listening to industry concerns. Industry leaders have been calling for more innovative ways to deliver the number of houses that the country needs – innovation that can bring more land forward and speed up access to sites to build on.”
The Community Partnership, as it is called, is looking to help public sector organisations to determine the appropriate mix of tenure for their site, including rental homes and homes for sale, in a model designed to meet the needs of their specific communities, without the need for grant funding. Homes available for rent will include discounted and market-rent solutions. Homes to be built for sale will include discounted sale units to help first time buyers.
It will also provide public sector clients with potential scope to derive a revenue income from their land.
Mr Anderson added: “We believe that our new Community Partnership has a big role to play in helping to unlock public land. It will bring scale and momentum to Kier’s tried-and-tested mixed-tenure housing delivery model, for public sector clients across the UK who hold land but don’t have the capacity to develop new housing.”
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This article was published on 7 Oct 2016 (last updated on 10 Oct 2016).