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L&G partners with housing association to acquire site for 150-home modular scheme
Legal & General (L&G) has partnered with a housing association to acquire a site in Kent for a 153-home scheme developed using its modular factory.
Town & Country Housing, part of Peabody, will work with L&G on the Homes England-funded scheme in Broadstairs.
It will deliver homes for shared ownership and social rent.
The new scheme means that, together with its schemes in Selby, Bristol and North Horsham, L&G has 670 new modular homes in its pipeline.
L&G will construct the new homes at its factory in Sherburn-in-Elmet, Yorkshire, with a range of two, three and four-bed houses to be built.
All homes have been designed to achieve an Energy Performance Certificate (EPC) ‘A’ rating, a standard met by only around 1% of new and existing dwellings in England and Wales.
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Alongside the new homes, the scheme will involve the creation of a woodland walk and the planting of 8,500 trees.
L&G harbours ambitions to build its annual housing delivery to 3,000 modular homes a year by 2024.
The investment giant describes its modular product as sustainable, high-quality, and affordable, with potential to transform housebuilding in the UK.
Rosie Toogood, chief executive of L&G Modular Homes, said: “In a post-pandemic environment, the importance of delivering affordable, carbon-friendly homes, set within green open spaces and at the heart of a well-connected local community, has moved to the top of the agenda.
“Through modular construction, Legal & General is able to deliver all of this and in half the time of traditional methods.
“With our delivery pipeline now for 670 homes, the business is making great steps forward.
“Our latest scheme in Broadstairs, along with our schemes in Selby, Bristol and North Horsham, will really showcase the part modular can play in helping the UK to build back better.”
Colin Lissenden, development director at Town & Country Housing, said: “We here at Town & Country are committed to making a positive impact on communities by providing more affordable and sustainable homes.
“That’s why we’re pleased to be working alongside Legal & General on the upcoming modular construction scheme in Broadstairs.
“Modular homes are an exciting approach to the UK’s housebuilding market, that delivers fast, efficient, sustainable, and affordable options to local communities.”
Town & Country manages a stock of nearly 10,000 homes in Kent, and it plans to increase building to 800 homes a year.
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