The agency has entered into a partnership with Swiss Life Asset Managers and Capital&Centric
The new Homes England partnership, the Impact and Places Partnership, brings the organisations together to help build more than 2,250 homes across England.
This would be equivalent to £860m worth of new homes across a decade, focused on areas where investment has historically been lacking.
Homes England has a 40% stake in the partnership
Swiss Life Asset Managers and Capital&Centric have taken a combined 60% stake, making Homes England the larger stakeholder in the partnership and the homes it develops.
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.”
Homes England are establishing many partnerships for growth
In September, Homes England partnered with the Vistry Group to support an investment of £150m for a series of community developments.
The key objective of the investment is to identify new sites for infrastructure and new communities for anywhere between 400 and 3,000 homes.
At the time, Matthew Pennycook, housing and planning minister, said: “Rapidly growing the pipeline of large mixed tenure sites across the country, making more use of Modern Methods of Construction, and backing SME housebuilders are all essential to achieving our Plan for Change target of building 1.5 million homes in this Parliament.
“By mobilising private capital alongside government investment, this significant new joint-venture will bring forward more high-quality, mixed-tenure developments and deliver thousands of new homes to buy and rent.”
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