PfP Capital has announced a joint venture (“JV”) which will deliver residential-led, urban communities across the UK with a targeting of constructing up to 1,200 highly sustainable homes, with a Gross Development Value of c. £390m.

HGP and PfP Capital will both commit equity into the JV whilst igloo Regeneration, the BCorp developer acquired by PfP Capital in January 2023, will be responsible for developing the schemes.

John Tatham, finance director, at PfP Capital and igloo board member, said: “This partnership will accelerate the development of over 1,200 highly sustainable homes across the UK, at a time when the pace of new home delivery is rapidly declining. Residential regeneration, and community-led regeneration in particular, is key to revitalising parts of the UK that have suffered from underinvestment.”

The first scheme to be brought forward is the initial phase, totalling 78 townhouses, of a 400-home development at Dundashill, in Glasgow. The completed development, a mix of two- three- and four-bedroom homes, will be highly sustainable across the design, construction and operational stages. 80% of the low energy properties will target an EPC A rating, with additional features including photovoltaic roof panels, as well as air source heat pumps and EV enabled parking.  

Peter Connolly, CEO at igloo, said: “Dundashill is an excellent example of the low carbon, sustainable homes that should be a blueprint for the UK’s future housing delivery.  Connected to local ecology, cycle and walkways and nearby amenities, the JV will bring forward these schemes in partnership with existing communities using the igloo Footprint® methodology to ensure that they enrich people’s lives and the planet.”

A further nine PfP igloo sites, in regional cities including Nottingham and Newcastle, are currently in the pipeline.