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Mount Pleasant Farm
 

Innovative partnership unlocks new affordable homes

Date: 4 July 2018

Sovereign has teamed up with Homes England and Liverty to accelerate the building of thousands more much-needed affordable homes across the south west.

The strategic partnership means the 57,000-home housing association will be able to build more homes directly through land-led opportunities, reducing their reliance on Section 106 agreements and giving them more control over the development and the speed of delivery.

Homes England will provide funding of just under £590m through to March 2022 to support the first wave of eight strategic partnerships, which includes the Sovereign and Liverty deal.

In addition to their combined 2,300 home development programme, the extra government investment will allow the two housing associations to start an additional 2,275 homes, with 1,498 new homes completed by 2022.

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Around half the extra homes will be built in the West of England, with the remainder delivered in areas of housing need including Berkshire, Hampshire and across the south west.

Sovereign is already providing new homes in and around Bristol, with 70 new homes at Spring Acres, along the Bath Road, and as a member of the partnership set to regenerate the Blackberry Hill Hospital site. 

Mark Washer, Chief Executive of Sovereign and Paul Crawford, Chief Executive of Liverty, said:

"This deal, a new way of working of together, has the potential to be a real game changer for many of the communities across the south west, where people can really struggle to afford to rent or to buy a home.

"We have an excellent track record of delivery, but by bringing together the skills and investment of Sovereign, Liverty and Homes England, and working alongside our local authority partners, we’ll be able to build even more homes, more quickly than we could apart. 

“Importantly, building the homes ourselves through land-led opportunities, rather than relying on Section 106 agreements, significantly increases the volume of new homes being delivered. We’ll also be able to support other regional associations to access capital grant, again accelerating additional growth and delivery even further."

In total, the eight deals will deliver an additional 14,280 affordable homes across the country.

Secretary of State for Communities, James Brokenshire MP, who announced the deals on Tuesday 3 July, said: “There is no mission more urgent than making our housing market work, and we are investing £9bn in building affordable homes.

“This £590m fund we are giving Homes England will help housing associations accelerate the delivery of affordable properties communities need.”

Homes England will re-open discussions with the housing association sector this summer on a second tranche of strategic partnerships.


Press and PR contacts


If you have a media enquiry, please contact our press office on 01635 572222 (available 24/7) or drop us an email press.office@sovereign.org.uk and one of the team will be pleased to help you.

Main contacts:

Debbie Down
Senior Communications Officer

Email:
debbie.down@sovereign.org.uk


Jane Carmichael

PR Specialist
Email:
Jane.carmichael@sovereign.org.uk 

Additional contact:

Tim Abbott
Head of Corporate Affairs

Email
tim.abbott@sovereign.org.uk

"There is no mission more urgent than making our housing market work"