Keepmoat has formed a joint venture with Sigma Capital Group for the programme with a budget of £800m.
Keepmoat and Sigma are targeting to start more than 1,000 homes within the next 12 months in the Northwest, Yorkshire, the Midlands and north of London.
The partnership will deliver mainly homes for private rent on land owned and to be acquired by Keepmoat. Along with securing the land, Keepmoat will lead on the design, planning and build process; lettings and investment management will be handled by Sigma.
Keepmoat chief executive Dave Sheridan said: “This is a significant milestone for our business, and we are proud to be working alongside Sigma to scale-up their PRS growth ambitions.
“The partnership will deliver great quality market rented homes alongside our Keepmoat homes for sale, which will allow the pace of housing delivery on strategic sites to be increased, to deliver the government’s aspirations and provide people across the country with much-needed housing options. There is an inherent need for more housing across the country, and we are looking to tackle the issue head on.”
Sigma chief executive Graham Barnet added: “We are looking to significantly expand our business in the PRS sector, and this partnership will accelerate our strategy for growth in this market.”