UK GOVERNMENT PARTNERS WITH BARRATT, LLOYDS TO BUILD HOMES-The government plans to build 1.5m homes
The Government’s Housing and regeneration body, Homes England is partnering with Barratt and Lloyds Banking Group in a £150m joint venture to create UK’s largest housebuilder and mortgage provider, in a bid to fulfil the government’s plans to build 1.5m new homes.
The combined venture, known as the MADE Partnership, will oversee multiple large-scale projects, including town extensions, new garden village-style communities and brownfield developments, each made up of 1,000 to 100,000 homes and community facilities.
Homes England, says the partnership would “have the finance, tools, expertise and partners required to ensure a cohesive approach to delivering a fabulous place that people want to live and work”.
The venture will initially be backed by up to £150m in funding, provided by Barratt, Homes England and Lloyds, which will hold equal equity stakes.
The minister for housing and planning, Matthew Pennycook, said the new venture will increase housing supply and boost economic growth by developing attractive areas across the country with the homes, jobs and infrastructure that communities need to thrive.
