Three organisations with complementary expertise in investment, housing and regeneration have entered into a joint venture to spearhead the creation of more than 2,250 homes in underinvested areas in England.
Homes England, Swiss Life Asset Managers and Capital&Centric have entered into The Impact & Places Partnership, which aims to deliver £860 million of new homes over the next decade in regions where demand for housing is most acute.
Homes England has a 40% stake in the joint venture under the terms of the agreement, with Swiss Life Asset Managers and Capital&Centric taking a combined 60% stake.
Steve Reed, Secretary of State for Housing, Communities and Local Government, said
We will get Britain building again by backing brilliant homegrown developers like Capital&Centric, and bringing in major institutional investors like Swiss Life Asset Managers, to build the homes this country desperately needs.
We are pulling every lever to fix the housing crisis and its exactly this kind of deal that will help us build the 1.5 million homes, faster, and in the communities that need them most.
Simon Century, Chief Investment Officer at Homes England, said
Attracting institutional investment into the housing sector is critical to build the new homes the country needs and contributes to the government’s ambition to build 1.5 million new homes in this parliament.
This new joint venture aims to develop high-quality, mixed-use residential schemes and brings together Swiss Life’s real estate experience and expertise with Capital&Centric’s impressive residential-led placemaking focus.
Our investment in this joint venture is further evidence of our commitment to attract private capital into the residential market, while supporting small and medium developers to realise their own housebuilding ambitions.
Jan Plückhahn, Head of Real Estate at Swiss Life Asset Managers, said
We look forward to bringing our financial strength and expertise, as one of Europe’s longest-standing financial institutions, to the partnership.
Tom Wilmot, Joint Managing Director of Capital&Centric, said
The strategy is all about delivering high quality neighbourhoods in a range of locations, not just core cities but also under-invested locations where the impact story is more compelling and the supply and demand dynamics are more favourable.
Notes to editors
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Homes England is the government’s housing and regeneration Agency, and we’re here to drive the creation of more affordable, quality homes and thriving places so that everyone has a place to live and grow. We make this happen by working in partnership with thousands of organisations of all sizes, using our powers, expertise, land, capital and influence to bring investment to communities and get more quality homes built. Learn more about us https//www.gov.uk/government/organisations/homes-england/about
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Swiss Life Asset Managers is a leading European asset manager and real estate investor with £259bn of assets under management that provides responsible and sustainable investment solutions for institutional and private investors.
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Capital&Centric is a UK-based regeneration specialist transforming unloved land and buildings into vibrant, design-led neighbourhoods that revitalise communities. As a social impact developer, it prioritises sustainability, great architecture, and community-focused design to create inclusive, energy-efficient places where people can live, work, and socialise. Some of its completed projects include Goods Yard in Stoke-on-Trent and Kampus in Manchester.
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For Homes England media enquiries please contact [email protected] or 0207 874 8262
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