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Places for People fund management and regeneration arm to accelerate 200 homes across Midlands and the North
PfP Igloo, a development subsidiary of Places for People (PfP), has accelerated plans to bring more than 200 homes for sale in Nottingham, Leeds and Newcastle in the next year.
The homes have been delivered via PfP Capital, a fund management arm established by PfP in 2017 aimed at creating raising equity and investing in regeneration and rental property across all tenures.
The Ironworks Leeds, Steenberg’s 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.
Homes are also being delivered on the Ouseburn Valley neighbourhood developments in Newcastle.
It comes as the council has also recently confirmed PfP Igloo as the development partner for Stephenson Quarter, a mixed-use £100m city centre site that will create 2,000 jobs and deliver 190 homes across a 4.3 acre brownfield site.
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John Tatham, finance director at PfP Capital, said: “We are continuing to back our own developments and pushing forward with new phases faster than we had anticipated, even pre-COVID-19.
“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 said that all new developments will be created in line with PfP Capital’s “total impact approach” around environmental, social and governance factors, placing an emphasis on health and well-being of occupants.
Peter Connolly, chief executive of PfP Igloo, said: “We are creating spaces with lots of natural light and spacious living areas for those who value being part of a sustainable, well-designed community, in locations with great potential.
“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.”
