Developer Accelerates New Homes Plans

Developer Accelerates New Homes Plans

Developer PfP igloo has accelerated plans to release more than 200 homes for sale across three UK cities over the next 12 months. A collaboration between PfP Capital UK and igloo Regeneration, the developer is part of the wider PfP Capital development partnership portfolio, with in excess of 400 homes completed or in construction and a total development value of £127 million.

“Like everyone, we’ve had to adapt during the pandemic and it’s been an extremely tough time to keep on programme, but by being agile and using new technology we’ve not delayed any sales releases and conversely, due to the speed of sales, we’ve even been able to bring our next phases for release forward and we are releasing homes 12 months ahead of completion,” commented Peter Connolly, chief executive at igloo.

As well as the Ouseburn Valley neighbourhood developments in Newcastle, the city council has also recently confirmed PfP igloo as development partner for Stephenson Square, a mixed use £100m city centre site that will create 2,000 jobs and provide 190 homes.

The Ironworks in Leeds, Steenbergs Yard in Newcastle and Nottingham, Waterside sites have all released new phases for sale over the summer months and have brought forward the release dates of future phases due to high demand.

“Looking at the sales data from our developments, it’s clear to see that the attention we have paid to the design and the mix of home styles, and creative investment in public realm is being very well received by local communities, and demand for our product is high,” said John Tatham, finance director at PfP Capital.

“We are continuing to back our own developments and pushing forward with new phases faster than we had anticipated, even pre-Covid. I’m confident that with the insights we have gained, our programmes will continue to operate as a catalyst for an uplift in the investment profiles of these important city regeneration areas. We are now actively looking for new sites to meet this demand.”

PfP igloo will make further announcements in early 2021.


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BDC 311 : Dec 2023