Housing Growth Partnership has invested £17.7m of equity across seven housing schemes in the Midlands since the start of 2023.  

HGP’s investment, alongside a diverse mix of established, local housebuilders, will enable the accelerated delivery of 557 much-needed for-sale and for-rent apartments and houses across the undersupplied Midlands region.

The schemes, which are scheduled to complete between Q3 2024 and Q4 2025; include a retrofitting of the former St. Mary’s Hospital in Melton Mowbray, Leicestershire, to deliver 41 houses and four apartments, alongside Snowdown Homes; 37 and 166 apartments respectively in Birmingham city centre, with Rainier Developments and 10M; in Leicester city centre 171 Build-to-Rent apartments, alongside Monk Estates; 21 homes in Sutton, Bedfordshire with Cora Homes; 47 new homes in Tansley Gardens, alongside Stancliffe Homes and a land purchase for c70 new homes in Derbyshire, in partnership with Cora Homes.

Mike Murphy, Investment Director for the Midlands at HGP, said: “Against a restrictive debt financing backdrop, the requirement from regional UK developers for funding solutions that enable them to grow their businesses and accelerate housing delivery has never been more acute. We have significant ambitions in the Midlands to continue expanding into different tenures. At the same time, these investments are aligned with our commitment to funding schemes which are delivering demonstrable environmental and social value.” 

HGP’s equity funding is looking to address an acute housing shortage in the Midlands, which have been exacerbated by rising house prices and a shortage of good quality, sustainable homes.