AUS
NZ
UK
CA
USA
IND
Barratt Developments PLC (LSE:BDEV) has announced the formation of a strategic joint venture with Homes England and Lloyds Banking Group to establish MADE Partnership. This collaboration aims to address the pressing need for new housing across the UK by focusing on the master development of large-scale residential projects.
New Initiative to Address Housing Demand
MADE Partnership is set to become a key player in the UK housing sector, concentrating on the master development of substantial sites ranging from 1,000 to over 10,000 homes. In addition to residential units, these developments will include various community facilities and employment opportunities, catering to diverse needs and fostering vibrant, sustainable communities.
Scope and Opportunities
The partnership will tackle a range of development opportunities, including large brownfield sites and new garden village-style communities. By leveraging the combined expertise of its partners, MADE Partnership is positioned to manage the complexities of large-scale developments effectively.
Key Players and Funding
The MADE Partnership brings together three influential entities:
- Barratt Developments: The UK's leading national sustainable housebuilder.
- Homes England: The government body responsible for housebuilding and regeneration in England.
- Lloyds Banking Group: One of the largest funders in the UK housing sector.
The venture is initially backed by combined equity funding of up to £150 million, provided equally by the partners. This financial backing will facilitate the unlocking and scaling of capital required to bring larger sites into production, supporting both major and SME homebuilders in addressing the national housing shortage.
Statements from Leadership
David Thomas, Chief Executive of Barratt Developments, emphasized the importance of large developments in meeting the country’s housing needs over the next 10-20 years. He noted, “Through the MADE Partnership, we are creating a master developer capable of managing the infrastructure and placemaking required for large-scale projects while maintaining the high quality and sustainability standards Barratt is known for.”
Peter Denton, Chief Executive of Homes England, highlighted the ambition and capability of the partnership in creating vibrant, diverse communities. “MADE Partnership will provide a master developer platform with the finance, tools, and expertise necessary to deliver not just homes, but excellent places where people want to live and work,” Denton stated. He further noted the partnership’s role in transforming brownfield sites, expanding existing towns, and developing new villages.
