Partnership with Housing Growth Partnership to focus on south east
Kier Property will develop urban brownfield sites in the south east of England as part of a new joint venture with social impact investor Housing Growth Partnership (HGP).
The pair agreed a five-year deal, worth £80m, which will see them acquire sites with or without planning permission, with the aim to build 2,000 homes for sale and rental by 2027 in areas with a shortage of supply.
The deal fulfils Kier’s aim to grow in the mixed-use regeneration market, while HGP, which is part of the Lloyds Banking Group, is seeking to engage in larger transactions.
Leigh Thomas, managing director of Kier Property said the deal would “significantly augment our residential regeneration strategy” and added a number of sites had already been identified.