Housing association Hyde Group has announced plans for a new £1bn construction and regeneration framework agreement.
Hyde Group said that it was aspiring to develop 10 per cent of its construction programme off site, and will be looking to simultaneously establish a framework agreement both for a main contractor and for the modular off-site category.
To procure the new framework, the group said it would select long-term construction partners, limiting this to between three and five contractors per lot. Lots will be separated by location and value.
The group would also extend the use of its frameworks to other housing associations and local authorities through joint ventures and partnership working.
Hyde anticipates that it will build between 1,000 and 1,500 homes a year across London, Kent and the south coast. Half of these will be affordable homes both for rent and for shared ownership. Developments will be spread across sites from under £1m construction value to more than £100m for major regeneration projects.
Hyde Group business development director David Gannicott said: “Our strategy is to establish long and productive partnerships that will enable us to build attractive and desirable homes for all sections of the community in locations where people want to live.
“Through the use of innovative funding structures, joint venture arrangements and partnerships with the public and private sector, we’re planning to significantly increase investment in our development programme, including building more affordable homes funded largely through profits from more housing for sale and from PRS activity.”