Public-private jv to unlock large sites

Homes England has launched a master developer joint venture with Oaktree Capital Management and Greycoat Real Estate to accelerate large-scale development sites across England.

The £250 million partnership will focus on large or complex sites with the potential to yield more than 1,000 homes each. It will acquire sites to masterplan and develop and undertake the infrastructure works needed so that sites are ready to develop and available to a “diverse” range of housebuilders.

The organisations said they would take a long-term stewardship approach to their placemaking, multi-tenure master developer model to “increase the pace of delivery while putting social and community values at the heart of successful new places”.

Oaktree Capital Management and Greycoat Real Estate will leverage their expertise, resources and knowledge, investing into an “underserved part of the UK residential market”.

After identifying potential sites, the partners are aiming to announce their first project in the spring.

Peter Denton, Homes England’s outgoing ceo, said: “Bringing forward more large-scale developments is key to delivering the homes the country needs – and this requires ambitious master developers with clear visions and long-term commitment.

“Joining Oaktree’s capital with Greycoat’s development experience, this partnership has the funding, ambition …