Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to the newest version of your browser.

Your browser appears to have cookies disabled. For the best experience of Construction News, please enable cookies in your browser.

Welcome to the Construction News site. As we have relaunched, you will have to sign in once now and agree for us to use cookies, so you won't need to log in each time you visit our site.
Learn more

Kier launches £1bn housing fund

A group of housing developers and investors have set up a £1bn fund to deliver 10,000 homes across the UK.

Kier Living, the Cheyne Social Property Impact Fund and the Housing Growth Partnership – a joint venture between Lloyds Bank and the Homes and Communities Agency – aim to deliver the new homes over a five-year period.

Under the model, the partnership will develop homes on local authority land, giving councils the option of delivering properties for sale or rent at discounted rates. Up to 50 per cent of each site will have affordable development opportunities.

The council would then work with the partnership to determine a suitable tenure mix for its area, without the need for grant funding. Lloyds will provide banking services and financing solutions.

The partnership will provide the local authority with an “end-to-end” development solution, including procurement, funding, site assembly, construction, sales and maintenance.

Kier Living executive director John Anderson (pictured) said: “Through this unique public-private sector partnership with experienced finance and development partners Kier, Cheyne and the Housing Growth Partnership, we are collectively offering an end-to-end solution to building much-needed new homes.”

Shamez Alibhai, head of Cheyne’s Social Property Impact Fund, added: “The long-term investment horizon of our socially conscious institutional investors means we are able to provide patient capital to work with Kier Living and the HGP in delivering a new socially inclusive, multi-tenure building model that helps alleviate the current housing crisis.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.