Cole Waterhouse and Tonia Investments have successfully purchased a 3.8 acre brownfield site in Leeds city centre having recently secured planning for 1012 apartments, over five separate blocks. Currently referred to as ‘Leeds City Village’, the triangular site sits opposite Leeds’ cultural district, Quarry Hill. Bound by Marsh Lane to
Andrea Fawell, Sales & Marketing Director of award-winning property developers Kebbell, reveals what is likely to affect house buyers and housebuilders in the second half of 2022, from market trends to the effects of the cost of living crisis, to sustainability. The Market Are you seeing any changes or trends
Network Space Developments has acquired a 2.8-acre site on Welcomb Street, Openshaw, from the LTE Group for an undisclosed sum. The former Manchester College site, accessed from the Ashton Old Road (A635), currently comprises of eight buildings of varying ages and sizes which were previously used as classrooms and workshops
Cyberhawk has signed an agreement with Shamal Technologies to digitally transform the way major construction projects are managed in the Kingdom of Saudi Arabia. Shamal Technologies is a leading geospatial company that delivers end-to-end data acquisition, visualization and analytics solutions that can reduce operational risk. The company is the first
Johnson Controls, the global leader for smart, healthy and sustainable buildings, is calling for organisations to take urgent action for safety compliance across high rise residential development during Home Fire Sprinkler Week. Now more than ever, the need for fire suppression and general safety in high-rise residential buildings is indisputable.
Building Better, an alliance of 29 housing associations and councils, supported by the National Housing Federation, has appointed an initial six manufacturers to its new dynamic purchasing system (DPS) for MMC category 2 construction systems. Future Built, LoCal Homes, Project Etopia, Roe Timberframe, Sigmat and Starship Homes are the first
As she gave the UKREiiF keynote this Thursday (19 May), Shadow Chancellor Rachel Reeves said a Labour government would get the economy firing on all cylinders – and backed the British construction industry to help forge that path towards a stronger economy. Speaking at the Royal Armouries Museum as part
The Business Plan which was published on 18th May responds to the estimated demand for an additional 50,000 workers every year and is primarily focused on securing construction’s talent pipeline. CITB will run and support several initiatives to inspire people outside of the industry to choose construction as their career
A HOUSEBUILDER is celebrating a major post-Covid recovery after seeing annual revenues grow by more than 200 per cent. After posting revenue of £37m for the 2021/22 financial year – a rise of nearly £24m from the previous year – Cumbrian-based Genesis Homes is anticipating another successful 12 months as
· L&G makes seven-year multi-billion-pound landmark investment commitment to help the West Midlands Level Up · Includes support for provision of housing of all tenures, including social and modular; commercial property and urban regeneration across multiple sites · First project for the partnership will deliver new affordable homes in the
Cole Waterhouse and Tonia Investments have successfully purchased a 3.8 acre brownfield site in Leeds city centre having recently secured planning for 1012 apartments, over five separate blocks. Currently referred to as ‘Leeds City Village’, the triangular site sits opposite Leeds’ cultural district, Quarry Hill. Bound by Marsh Lane to the west and Shannon Street to the north. It was formerly home to the Marsh Lane Goods Yard. The joint venture sees Cole Waterhouse and Tonia Investments working in partnership for the first time. Speaking about plans for the development, Damian Flood, CEO at Cole Waterhouse, commented: “We seek to build developments where placemaking is central to the design to help deliver places that are desirable destinations as well as great places to live.” Commenting on the acquisition, JV partner Tonia Investment Principal Charlie Qian said: “Tonia is excited to work with Cole Waterhouse. We hope the delivery of this impressive scheme will add to the continued expansion of the City Eastwards. It will provide an acre of new public realm that we hope will complement the success of the neighbouring cultural quarter.” The JV partnership now aim to progress the scheme with Leeds City Council. They plan to make a series of design changes to enhance the residential offering and public realm space. The revisions to the submitted planning application will ensure that the development meets occupiers’ expectations now and in the future; proposed changes include adjusting the balance of studio apartments for larger 1-bed apartments as well as providing a sharper focus on the communal areas and the overall scheme design. Enhancements to the public realm will seek to address functional improvements that enable better use of outdoor spaces for entertainment, exercise and leisure. Damian Flood said: “Understanding the area’s culture and the community’s future ambitions is crucial and we will be appointing a local cultural lead to help us shape the scheme to ensure it meets the aspirations of local residents. This community-first approach has been hugely successful for us at other schemes, helping to really connect and engage with the local market from the earliest stage of the development. “We’re really excited to be working in Leeds at a time when it is undergoing a significant period of transformation and we will be appointing a primarily Yorkshire-based team to deliver the project over the next 6 years. We will be submitting the revised planning application by the end of 2022 with the intention to start on site as soon as planning is granted.” Cole Waterhouse has a strong track record in the residential and BTR sector and has a current pipeline to deliver over 2000 residential units across its sites in Leeds, Birmingham and Manchester. Building Design and Construction Magazine | The Home of Construction & Property News
Andrea Fawell, Sales & Marketing Director of award-winning property developers Kebbell, reveals what is likely to affect house buyers and housebuilders in the second half of 2022, from market trends to the effects of the cost of living crisis, to sustainability. The Market Are you seeing any changes or trends in the new build market at the moment or is it still all about unprecedented demand and a lack of supply? “There still continues to be a ‘race for space’ and chronic shortage in supply of materials and labour and the reasons remain the same ie the effects of Brexit, the pandemic and world shortages. Where it has become even more challenging is that there is now a chronic lack of properties on the second hand market because sellers don’t believe they will have anywhere to move to, so they are holding back on putting their homes on the market. This means potential buyers have far less choice and so the cycle continues. “New builds are still being snapped up before construction even starts at many developments. All of our sites that are selling two to five bedroom houses are sold out or forward sold for up to 12 months, and at Cornelian Fields in Scarborough the waiting list is 18 months. New home property prices are also rising because of energy prices and shortages so the cost to build a house is much greater now. This incredibly hot market is unhealthy for everyone involved. We need more properties on the secondhand market for stabilisation.” So are developers running out of stock? “We are completely led by opportunities that our amazing land buyers can find but there is less available land compared to other countries, especially in the South East. Success is made on how much you pay for a new site adding on the cost implications of building and the managing of a site. Land-buyers have an incredibly difficult job and have to have their ears constantly to the ground. Kebbell largely chooses to stick to markets that we know extremely well but yes it is more of a tousle for new sites than before.” What is the effect of the cost of living crisis and energy prices rises on the new build market? “We are all aware that energy prices have risen for everyone and are set to rise further, from electricity, gas and water, to fuel at the pump, and they have to be absorbed to some extent. However buyers of new homes are taking into account that those running costs are much less per sq ft in a new build than in a second hand home. Buyers are telling us “Your underfloor heating is going to save me money and I’d much rather invest in that than pay the utility companies even more money.” Are new home buyers having to bear the brunt of increased material costs? “Not on our current sites. We have done some very savvy buying and have secured material costs on existing sites, so we have been able to absorb increases on the whole. On newer up and coming sites it is more challenging, but reputable developers are trying to future proof our build costs but also have to be very realistic about increased materials and labour. The import duty now added to materials that come out of the EU, the increased time it takes for things to be delivered and come through customs, plus general shortages are all additional factors to be considered. We ask contractors all the time about how likely their prices are to rise during the duration of the development of a particular site, which could be say three years, and can they guarantee having enough labour? They need to have thought it through too. We need to keep costs sustainable for the whole duration.” Are more new build homes being sold off plan? “Yes houses definitely. We can sell houses all day and all night at the moment especially in the middle price point. We like to be cautious though because as we build we often slightly tweak our designs and specifications to make sure they are perfect in ways that you can’t plan for. Serious early buyers are usually okay with the fact that final details may change as long as they are kept in the loop because they want the best plots on site and are happy to wait for their new home. “It is currently a slightly flatter market for apartments for downsizers and lock-up-and-leavers because the market isn’t as buoyant at that end. These sellers generally haven’t put their houses on the market yet and are even more particular than ever about what they want in their future home. It took us a little longer to sell our luxury apartments at Wintersbrooke in Berkshire than we expected as the market was slower to move during the pandemic, but all of our buyers are delighted to be in their new homes now.” How is sustainability influencing the value of properties? “Whilst this is increasingly on the property industry’s radar, we have really only scratched the surface. We are seeing future changes such as the scrapping of gas boilers and buyers want developers to be more eco-friendly especially in light of increased living costs. ESG (Environmental and Social Governance) is more important but there is also a lot of greenwashing as an industry. Half-hearted attempts just aren’t going to be enough. “There are so many ways we need to make a difference from the materials we use, future-proofing homes, water-saving, sustainability, to our skips and recycling, urban sustainability and less being influenced by geopolitics. I certainly don’t have all the answers, but we are looking in earnest about how we can make a difference. I recently went to Svalbard as part of a global research group to study the effects of microplastics in the ocean water, as well as be part of a survival psychology study. This trip was organised after our expedition to
Network Space Developments has acquired a 2.8-acre site on Welcomb Street, Openshaw, from the LTE Group for an undisclosed sum. The former Manchester College site, accessed from the Ashton Old Road (A635), currently comprises of eight buildings of varying ages and sizes which were previously used as classrooms and workshops by the Manchester School of Building. Initial development plans are for the delivery of up to 70,000 sq ft of multi-let industrial accommodation with work due to start on site in the first half of 2023, subject to securing planning permission later this year. Joe Burnett, Development Director for Network Space Development commented: “We are delighted to have acquired this site which provides the opportunity to build on the success of our adjacent City Works scheme. “The site is very well located within Openshaw and in a sought-after area of Greater Manchester. It is ideal for both industrial and last-mile logistics uses with its excellent accessibility to a skilled local workforce as well as close proximity to Manchester City Centre. He added: “This latest acquisition aligns perfectly with our strategy for growing our industrial and logistics portfolio by targeting sites located in key urban areas with significant future growth potential.” LTE Group were represented by Cushman & Wakefield. Building Design and Construction Magazine | The Home of Construction & Property News
Cyberhawk has signed an agreement with Shamal Technologies to digitally transform the way major construction projects are managed in the Kingdom of Saudi Arabia. Shamal Technologies is a leading geospatial company that delivers end-to-end data acquisition, visualization and analytics solutions that can reduce operational risk. The company is the first in Saudi Arabia to develop solutions that integrate artificial intelligence technology with unmanned systems. Cyberhawk is a world leader in visual data solutions for energy infrastructure and capital projects. The UK firm captures images of critical infrastructure using drone technology, which is analyzed using Cyberhawk’s cloud-based visualization software, iHawk. As part of the agreement, both parties will combine data acquisition and analytics expertise to launch a powerful Visual Intelligence solution for major capital projects in Saudi Arabia. Shamal Online, the name given to the new data management and visualization platform, will be powered by iHawk. Cyberhawk will also provide technical knowledge transfer support and scale up drone surveying operations for planned construction projects within the region. The construction monitoring solution will support project managers to track milestones, coordinate vendor activities, and schedule future onsite work. The fully enabled IoT solution will empower project managers to make evidence-based decisions by integrating seamlessly with third-party sensors and APIs. Geospatial information, including imagery acquired from ground cameras, CCTV, drones, and autonomous technologies will form data layers for analysis on an unprecedented scale. The agreement was signed during a ceremony held at the King Abdullah University of Science and Technology (KAUST) which is an institute focused on driving innovation, economic development, and social prosperity in Saudi Arabia. The partnership is aligned with the Saudi 2030 vision to form strong international alliances and invest in a highly trained Saudi workforce to develop progressive industries and futureproof the economy. Chris Fleming, Chief Executive Officer at Cyberhawk commented: “Countries within the Gulf Cooperation Council are successfully growing and diversifying their economies through digital transformation strategies. Shamal Technologies is a great example of this, and we’re excited about working together to accelerate innovation within the Kingdom.” Haitham Aljahdali, CEO at Shamal Technologies added: “The world is in a data revolution. That leads us to use great visualization tools to empower thousands of asset owners, project, and inspection managers to harness the power of data. Cyberhawk has one of the best-in-class data management and visualization platforms in the world. We are glad to have this partnership with the market leader in the field.”
Johnson Controls, the global leader for smart, healthy and sustainable buildings, is calling for organisations to take urgent action for safety compliance across high rise residential development during Home Fire Sprinkler Week. Now more than ever, the need for fire suppression and general safety in high-rise residential buildings is indisputable. We need look no further than the cladding crisis to see the urgent need for legislation, building regulations, and standards to be upheld and revised where required. Keeping people and facilities safe from fire is a requirement for every building, facility, and premise, including high rise buildings. As with any built environment, there isn’t a one-size-fits-all solution. Developers need to find the right fire suppression solution to match the risk of a particular building, and the right partner to support this process. If these suppression solutions, such as sprinklers, are not properly installed and maintained, then they aren’t reliable to spring into action when an emergency strikes to save stock, equipment, and most importantly, lives. “We are seeing a cultural and regulatory shift, but there is still work to be done in not only setting standards, but also striving to exceed them. Ultimately, more needs to be done to raise awareness of the range of fire suppression solutions available and what they can do. The right solutions will not only add value to buildings, but also save lives.” said Adrian Kay, UK Head of Technical Compliance & Quality, Fire Suppression at Johnson Controls Ensuring fire safety compliance and suppression in even the most complex of high-rise residential developments may seem like a daunting task, but a safe building is one that brings multiple levels of safety and security together, at all times, in all places. Johnson Controls has put together the following five tips for good fire safety practice, and effective fire suppression: The Need to Use Experienced Engineers: Using experienced engineers and contractors is paramount, as a poor supplier choice leads to inexperienced sub-contractors carrying out work they cannot deliver safely, resulting in delays and potentially serious compliance risk. The Correct Contractor: When choosing a contractor, it is important to choose one that services to recognised standards and carries one of the industry-approved third-party certifications within its scope: LPS1048, FIRAS or IFC. Adhering to Regulations: Sprinklers in new high rise residential buildings over 11m is now a requirement, and every commercial or industrial property must have an individual who is responsible for fire safety, and it is their responsibility to make their premises compliant. Effective Installation: Many contractors are not used to high rise buildings and the complexity required in sprinkler installation, and this kind of expert knowledge is where third-party accredited contractors are essential. Sprinkler Maintenance: Best practice for sprinkler maintenance starts with weekly or monthly checks in-house, with experts employed on a quarterly, six-monthly or annual basis to ensure that systems are cared for and in good Building Design and Construction Magazine | The Home of Construction & Property News
Building Better, an alliance of 29 housing associations and councils, supported by the National Housing Federation, has appointed an initial six manufacturers to its new dynamic purchasing system (DPS) for MMC category 2 construction systems. Future Built, LoCal Homes, Project Etopia, Roe Timberframe, Sigmat and Starship Homes are the first firms selected by Procurement for Housing and Building Better to provide 2D panelised systems, assembled on-site. The DPS is worth £600m over four years and will run in parallel with Building Better’s first MMC framework which launched in July 2021 and covers category 1 volumetric 3D systems. The alliance aims to give members access to a range of different MMC solutions so they can find the right one for their site. Building Better took the decision to create a DPS, not a fixed framework, so panelised manufacturers can join at any point during the term of the DPS. The category 2 segment of the offsite market is evolving rapidly with new products and manufacturers emerging all the time. By setting up a DPS, social housing providers can access the latest solutions and suppliers as they come to market. Over 215,000 homes are managed by the 29 housing associations and local authorities that make up Building Better. Since the launch of its volumetric framework in 2021, alliance members have put nearly 40 schemes through it, getting costs on over 900 MMC homes. With the launch of its DPS, Building Better will help the social housing sector to produce around 5,000 MMC properties by 2026. Manufacturers wanting to join Building Better’s DPS must first be certified by the Buildoffsite Property Assurance Scheme (BOPAS) or assessed by building warranty provider the National House Building Council (NHBC) and their products must aim to meet the Future Homes Standard. Once they have passed an additional selection procedure, looking at their commercial, social and sustainability credentials, manufacturers can bid for opportunities via a tender call-off. This process has been streamlined for social housing providers too, with members receiving a tender template pack and hands-on support from Procurement for Housing. Trina Chakravarti, Project Director of Building Better said: “The emerging nature of this part of the MMC marketplace means that social housing organisations have, to date, been wary of category 2. Some told us they were anxious about committing to a panelised manufacturer; not knowing if the company or even this form of MMC would be around in four years. Because of this, we knew a different procurement approach was needed; one that would still provide high standards and ease of access like our category 1 framework, but a solution that didn’t ‘clip the wings’ of manufacturers operating in such a fluid environment.” John Bellamy, Category Manager for Construction & Sustainability at Procurement for Housing (PfH) said: “A major benefit of setting up a DPS is the learning. As an alliance, we’ll be able to grow our understanding of what housing organisations actually require with category 2 and the technical solutions they gravitate to. Creating a framework now would have meant guessing the answers. But a DPS allows us to gather data and feedback on products and manufacturers, educating ourselves and helping us to normalise offsite and use it at scale across the sector.” For further information about using Building Better’s MMC Category 2 DPS, click here For manufacturers wanting to join Building Better’s MMC Category 2 DPS, click here Building Design and Construction Magazine | The Home of Construction & Property News
As she gave the UKREiiF keynote this Thursday (19 May), Shadow Chancellor Rachel Reeves said a Labour government would get the economy firing on all cylinders – and backed the British construction industry to help forge that path towards a stronger economy. Speaking at the Royal Armouries Museum as part of the three day conference hosted by the UK’s Real Estate Investment and Infrastructure Forum, she told attendees ranging from investors, developers and occupiers of real estate, how Labour’s plan to grow the economy and bring jobs and prosperity to all parts of the country. And she said the party were committed to support businesses and the industry with the huge challenges facing them from rising inflation and supply chain problems. She said that a partnership between government and business lies at the heart of Labour’s plan for growing the economy, and laid out the party’s key plans to: Buy, make and sell more in Britain Introduce a Climate Investment Pledge to leverage in massive private investment into the economy, boost businesses and create jobs across all parts of the country Create an Industrial Strategy that will help grow the economy and help British industries lead the pack Scrap business rates and replace them with a fairer and more modern form of business property taxation Introduced on the levelling up stage by director of Built Environment Networking Ltd, Phil Laycock, Reeves said that Labour will always be proudly pro-worker and proudly pro-business party. And she noted that “as we rebuild after the pandemic, transition to a low-carbon economy, and meet the challenges and opportunities of the future, businesses large and small will be an essential part of that collective national effort.” Speaking about levelling up, she said “As every one of you will know, a real plan for growth needs to be a plan for growth felt in every part of the country. In too many parts of our country, confidence in the future does not yet match pride in the past. “If we are going to fix that, it will take much more than a cosmetic levelling-up, it will take a real plan for widely-shared prosperity. “For Labour, this means: “First, bold investment to allow us to seize the opportunities of climate transition. “Second, getting serious about industrial strategy – and that is inseparable from a serious regional strategy. “And third, a government providing responsible and open leadership, to create an environment in which business leaders can have confidence and certainty.” Speaking about Labour’s plans for an industrial strategy, Reeves said: “We need a serious industrial strategy fit for the 21st century. “Where the Conservatives scrapped their own Industrial Strategy Council, Labour will create an industrial strategy built on an ethos of cooperation across the public and private sectors, employers and workers. “It will bring local, regional and national leaders together with businesses, trade unions and universities to unlock the brilliance of our leading businesses and entrepreneurs in every part of Britain.” On what Labour would do right now to help businesses facing soaring costs, Reeves said: “We would support energy intensive firms with £600 million of emergency funding to get them through this crisis. “We would cut Business Rates in the short term, providing much-needed relief while overhauling the system in the longer term to make it fit for the 21st Century. “And we have consistently opposed the National Insurance rise. It is a tax on working people and business at exactly the wrong time. “This is a time when working people and the great majority of businesses need a government that is on their side and a Labour government would always strive to be that.” On Labour’s Climate Investment Pledge to supercharge industry, Reeves’ said: “Over the next five years, we are forecast to have a near £800bn investment gap compared to other OECD countries. “I agree with the director of the CBI, Tony Danker, who says this calls for ‘catalytic public investment’. “That is what Labour’s Climate Investment Pledge – £28bn invested each year for the rest of this decade – is about: unlocking the private investment we need to get our economy firing on all cylinders. “Labour will invest in the green industries of the future, working closely with industry – including our construction industry – to build Giga-factories to make batteries for electric vehicles, a thriving hydrogen industry, offshore wind with turbines made in Britain, and flood defences, working closely with, and supporting industry – including our construction industry. “There is a global race on for the jobs of the future, and it calls for active government and business working in partnership.” On Labour providing certainty for British businesses, Reeves said: “It is vital that government provides certainty and transparency in policy decisions so you can know it is safe to invest and plan ahead, without fear of erratic decision-making or policy decided behind closed doors which then falls apart upon contact with the real world. “A Labour government will take a long term view, working with business, in a spirit of cooperation and transparency, to meet the challenges and seize the opportunities of the future.” Building Design and Construction Magazine | The Home of Construction & Property News
The Business Plan which was published on 18th May responds to the estimated demand for an additional 50,000 workers every year and is primarily focused on securing construction’s talent pipeline. CITB will run and support several initiatives to inspire people outside of the industry to choose construction as their career and to upskill and retain existing talent. Skills Demands The plan details how CITB will invest in supporting apprenticeships and building bridges between further education and work to get more learners into construction. It intends to create more accessible routes into construction, focusing on apprenticeships, alongside on-site experiences, and future rollout of occupational traineeships. A total of £60.3m in direct grants will be made available to employers who take on apprentices, supporting the industry to address its current and future need for a skilled workforce. Capacity and Capability of Construction Training Provision £25.9m will be invested in direct training delivery to enable the continuation of core skills training and training provision in niche and at-risk skills through CITB’s National Construction Colleges. The plan will support over 300,000 Health Safety & Environment tests over the coming year, ensuring there is good availability of tests in as many locations as possible, bringing assurance to employers that their workforce can keep themselves and those around them safe. Future Skills Needs The plan describes how CITB will help to address longer-term challenges such as net zero, digitisation and modern methods of construction. £2.1m will be invested into research to better understand construction’s changing environment to help focus CITB’s work on interventions that will have the greatest impact and shape new training and standards development. In a statement, Tim Balcon, CITB Chief Executive, said; “While progress has been made, the construction industry has faced significant challenges in recent years, including inflation, rising fuel prices, the pandemic and Brexit, to name a few. In many ways the industry is still experiencing and feeling the impact of these events, which we know has shifted priorities greatly and pushed the demand for skills to the forefront. It’s essential now more than ever that efforts are focused on helping to alleviate those pressures and address the key needs of industry.” Robert Candy, Scaffolding Association Chief Executive, said; “It is welcome news that CITB are investing levy payers’ money into the areas that need it most. Skills shortages and training provision that is fit for purpose and accessible are shared priorities of the Scaffolding Association. Tim is speaking at our conference in September and we look forward to working with him and his team in addressing the skills shortage”. Building Design and Construction Magazine | The Home of Construction & Property News
A HOUSEBUILDER is celebrating a major post-Covid recovery after seeing annual revenues grow by more than 200 per cent. After posting revenue of £37m for the 2021/22 financial year – a rise of nearly £24m from the previous year – Cumbrian-based Genesis Homes is anticipating another successful 12 months as it looks to nearly double the amount of new homes it builds. The company, which acquired fellow Cumbrian homebuilder Russell Armer Homes in April 2021, legally completed on 96 new homes during 2021/22 and is well on track to achieve or exceed its current build target for 2022/23 of 176 units. Nicky Gordon, the company’s Managing Director, said: “Whilst 2021/22 has proven to be the most challenging year so far in the housing industry with ongoing supply chain issues, labour shortages and the inflated cost of materials a constant challenge amidst the effects of a global pandemic, Genesis Homes is well placed with a strong and experienced senior management team and positive momentum for further disciplined growth and success. “Our team has remained lean, but we have increased by strengthening in key areas of construction, sales, development and customer service in particular, and by merging the existing teams following the acquisition of Russell Armer Homes. The way the team members have settled in and integrated has played a key part in contributing to our success this year. “I’m delighted with the performance of the company during what can only be described as the most difficult of times, and I’m hugely grateful to all team members and stakeholders for their commitment and hard work to ensure we are in such a strong position.” The upcoming 2022/23 financial year promises to be another busy one for Genesis Homes as it is currently operational across eight developments, with a further two to begin later this summer. Among the developments under construction at the moment is the pioneering EcoGen development in the Cumbrian village of Calthwaite which will see the company build 16 carbon net zero emitting homes. All homes will be fully powered by renewable energy sources and controlled by smart technology as part of Genesis’ ongoing commitment to significantly reduce household emissions. In total, all 10 developments will amount to 757 new homes once completed with an estimated revenue value exceeding £235m. Nicky said: “The upcoming year is very exciting for all involved in Genesis and we are all looking forward to what this next year and future years hold for us. “We have great ambitions to continue growing the business and keep building top-of-the-range new homes for our customers to thrive in. “The EcoGen project is a development of huge significance as we lead the way in sustainable housing, and we hope this can help pave the way for a more environmentally friendly approach to home building across the UK.” Nicky founded Genesis Homes in January 2017 and the company has quickly grown into one of the largest homebuilders across Cumbria. Throughout 2021/22, five site acquisitions were successfully completed by Genesis’ land and planning team with a further four sites under company control, equating to an estimated 600 new units in total.
· L&G makes seven-year multi-billion-pound landmark investment commitment to help the West Midlands Level Up · Includes support for provision of housing of all tenures, including social and modular; commercial property and urban regeneration across multiple sites · First project for the partnership will deliver new affordable homes in the Black Country · Strong innovation focus to drive economic growth across the region West Midlands Combined Authority (WMCA) Mayor, Andy Street, and Legal & General (L&G) CEO, Sir Nigel Wilson, have today signed a partnership agreement with L&G committing to invest £4bn in regeneration, housing and levelling up across the West Midlands. The landmark agreement, L&G’s first with a combined authority, sets out a commitment to a seven-year programme of L&G investment, building on the region’s 2022 Investment Prospectus. The programme is designed to create vibrant, dynamic communities in the region which, by providing attractive environments for people to work, live and play, will further enhance the West Midlands as a driver of UK economic growth. This builds on similar partnership agreements the WMCA has signed since 2018 with organisations such as Lovell and St Modwen. The clear statement between both organisations combines the respective strengths of the WMCA and L&G. The Combined Authority has a clear and ambitious vision for the region with a strong commitment to Levelling Up, net zero, brownfield regeneration, affordable housing, inclusive growth and devolved powers to deliver on issues from land assembly to infrastructure, both physical and digital. L&G, which manages £1.4 trillion as the UK’s largest investor, has financed over £30bn of regeneration in UK towns and cities outside London, and wants to repeat the scale of this investment. It has already invested over £2bn in the WMCA’s region, including the £210m Birmingham Health Innovation Campus and multiple housing projects. The 2022 West Midlands Investment Prospectus launched in March provides a range of possible development opportunities spread across the region which L&G and other investors can invest in. These prioritise creating thriving and more prosperous places and communities, including “corridors” and city and town centre development. Alongside investment into new commercial developments, the agreement envisages a major contribution by L&G into climate-friendly projects, local communities and social and affordable housing, including build-to-sell and build-to-rent – providing high-quality homes across the range of tenures. The agreement will also support the region’s target to deliver 215,000 new homes by 2031, as set out in its ground-breaking Housing Deal with Government in 2018, and the WMCA’s drive for wider inclusive growth. Since the Housing Deal was signed, the West Midlands has secured upwards of £600m from Whitehall to drive regeneration with new housing and commercial schemes focussed predominantly on derelict or vacant urban sites, often referred to as brownfield land. Using a nationally leading ‘brownfield first’ approach, WMCA investments have unlocked scores of disused industrial sites for new homes and jobs with developers required to make at least 20% of those new properties affordable under the WMCA’s own locally applied definition, linked to real world local wages rather than property prices. The first scheme for the partnership will be The Junction, a brownfield site in Oldbury which has lain empty for over 20 years. The site will be brought back into economic use through the investment of L&G. The development will deliver 234 energy efficient new homes of which nearly 50% will be for affordable housing under the WMCA’s local definition. Andy Street, Mayor of the West Midlands and chair of the WMCA, said: “The unveiling of this £4 billion partnership agreement with L&G is a prime example of how the West Midlands is getting on and delivering Levelling Up. This major investment will help regenerate long neglected areas across the West Midlands, provide affordable homes in the communities where the need is most felt, and supercharge economic growth in the years ahead. “The scale of the ambition L&G is showing is evident in both the huge sums involved and the breadth of projects envisioned. It is a tremendous vote of confidence in the future of our region from one of the world’s biggest investors, and I am delighted L&G came to the table and agreed such a monumental commitment with us. “I cannot wait to see this investment rolled out, projects underway, and the lives of our residents changed for the better.” Sir Nigel Wilson, CEO of L&G, added: “We have been investing across the UK in partnership with cities and universities for a decade. It’s part of our ‘Inclusive Capitalism’ approach and has delivered terrific economic and social results. With Andy and his colleagues as ambitious partners at WMCA, we can take this to a new level. “The West Midlands’ economic plan, resources and skills make it an attractive destination for trade and investment from across the world; our role in this is to put UK funds including pension savings to work here so UK savers benefit from UK prosperity.” Cllr Mike Bird, WMCA portfolio holder for Housing and Land and leader of Walsall Council, said: “There’s no doubt that Covid has been hard on our regional economy but this partnership brings together public and private sector investment and skills on an unprecedented scale in the West Midlands. “It also shows how our determination to press on and continue making key investments throughout the pandemic, bringing solid delivery on the ground, has been critical in driving private sector confidence and trust. “The level of investment that L&G has set out will be an incredible shot in the arm for the West Midlands as we continue our recovery, helping to bring sustainable economic growth that benefits all our communities and supports our ambition to be a net zero region by 2041.” L&G’s Director of Levelling Up, John Godfrey, adds: “Towns, cities and regions across the UK can do much, much better – this is the essence of the levelling up agenda. This framework agreement with the West Midlands enables political will to combine with financial resource so policy intentions become deliverable realities. We fully expect