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Flagship and house builder to deliver 300 homes through new JV
House builder Hopkins Homes and housing association Flagship Group have announced a new joint venture, which will aim to deliver 300 homes in the East of England.
Hopkins Homes will build 240 homes on the site in Stowmarket, Suffolk. Flagship Group will create 60 homes, which will be for a mix of affordable rent, shared ownership and open market sale.
Flagship Group, which manages more than 28,000 homes, has previously worked with Hopkins Homes on developments in Suffolk, Cambridgeshire and Norfolk.
Construction work on the site has already begun, with the expectation that the first home will be completed in November 2020.
Earlier this year, Inside Housing revealed that Hopkins Homes, which has a turnover of £166m, successfully registered Peal Community Housing as a housing association.
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It is one of several private house builders, including Park Properties and Larkfleet Homes, that have set up registered providers partly as a result of the difficulty in finding existing housing associations willing to buy affordable homes built through Section 106 planning commitments.
James Hopkins, executive chair of Hopkins Homes, said: “We pride ourselves on the quality of the homes we create and the strength of our links with the local community.
“We are pleased to be working with a housing association [that has] such strong ties to the East of England, an area where we provide exceptional new homes throughout the counties of Suffolk, Norfolk, Cambridgeshire and Essex.”
Peter Hawes, chair of Flagship Group, said: “We’re delighted to be building on our existing relationship with Hopkins. By working together we can accelerate the delivery of much-needed affordable homes.
“We know partnerships are key in helping us to achieve our ambitious development programme. They help create the funds needed to continuously improve our current homes for the benefit of our customers and are crucial in solving the housing crisis in the East of England.”
