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Your Housing Group embarks on £2.5bn JV
Warrington-headquartered housing association Your Housing Group is embarking on a £2.5bn joint venture with WElink Group to create a major UK modular housing developer.
It is expected that the venture will deliver 25,000 units by 2022, using rapid construction methods to help address the UK housing crisis and support the government in delivering its target of 1 million new homes by 2020.
The partnership will deploy next-generation construction techniques from Barcelona Housing Systems and access China National Building Material Company’s (CNBM’s) industrial strength, financial support and leverage for additional investment in the UK.
Stephen Haigh, UK chief executive of the new joint venture, said: “Through this joint venture we are leading the transformation of the housing market and are able to address the UK’s housing need head-on, creating an innovative platform to enable the increase in supply of new homes.
“Our announcement is very much about identifying new opportunities and assisting government and other housing associations to achieve their housing aspirations as announced in the recent Autumn Statement, such as the £2.3bn infrastructure fund. It is also crucial that we work closely with local authorities to create mixed-tenure communities to cement our development model as the solution to their housebuilding and development needs.”
CNBM has committed to building six factories across the UK employing more than 1,000 workers.
Your Housing Group and WElink are currently jointly assessing the potential to base the factory sites in strategic locations in: Scotland, South Wales, the North East, the North West, Yorkshire/North Midlands, and in the South and South West.
Brian Cronin, chief executive of Your Housing Group, said: “YHG is committed to providing innovative solutions to address the availability crisis which affects the housing sector in the UK today.
“Therefore as one of the UK’s largest housing associations, with over 20 years’ experience of housing management and operations, we are delighted to be part of this ground-breaking joint venture. This innovation in housing construction also creates new types of employment, develops new building skills, and nurtures apprenticeship opportunities, which is good news for local people and businesses where we develop our housing and supply chains.” Read more
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