Places for People has agreed to forward-purchase homes across two schemes in Mid Sussex and Exeter.
Subject to planning permissions, Places for People will purchase two sites that Ilke has assembled: a 307-home development in Burgess Hill, Sussex; and a 165-home development in Exmouth Junction, Exeter.
Both developments will provide a range of apartments and two, three and four-bedroom homes, transported down from the north of England on the back of lorries.
Places for People director Scott Black said: “By adopting modern methods of construction, our partnership with a proven modular business such as Ilke Homes allows us to create more affordable, well-designed mixed-tenure communities across the country – speeding up delivery, cutting costs and giving our customers unrivalled choice and quality.”
Ilke Homes executive chairman Dave Sheridan said: “These transactions mark a significant achievement for our modular business, with Burgess Hill being the largest for our business in both GDV and volume for a forward-sold turn-key delivery package on a single site. Exmouth Junction is similarly the largest site to date secured and packaged in the SW region.”
Ilke Homes is owned by London-based private equity firm TDR Capital, a subsidiary of Abu Dhabi Investment Authority.