M&G already owns majority stake in Greencore

Investor M&G has pumped a further £30m into sustainable housebuilder Greencore to boost land acquisitions across the South-east.

The firm bought a majority stake in the Surrey-based developer at the beginning of 2022.

It said the latest investment in Greencore was intended to help the firm become a national housebuilder and meet its target of building 10,000 homes in the next decade.

Greencore Homes_Springfield Meadows_2 (2)

Springfield Meadows in Oxfordshire, where Greencore built 25 ‘climate positive’ homes

Greencore builds homes using closed panel timber fames manufactured off-site using natural materials including hemp, lime and wood-fibre.

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It claims this leads to higher quality homes which are more energy efficient as they lock up more carbon than is emitted during construction and over the lifecycle of the property.

The company currently has around 40 employees, opening its first factory in Bicester in 2022 and plans to add more.

Jon Di-Stefano, chief executive of Greencore Homes, said: “M&G’s further investment reflects their confidence in our potential to operate at scale. This investment will enable us to secure the land needed to deliver on our targets whilst supporting local communities, jobs and the environment.”