Barratt, Lloyds Bank, Homes England form JV for large housing projects

(Sharecast News) - Barratt Developments, UK government agency Homes England and Lloyds Bank have formed a joint venture master developer platform that will focus on large sites to deal with Britain's housing shortfall. Each partner will invest up to £150m in the venture, to be called the MADE Partnership to focus on multiple large scale, residential-led developments from 1,000 to more than 10,000 homes "along with a variety of community facilities and employment uses".

Potential development opportunities will include large brownfield developments, as well as new garden village style communities, the trio said on Monday.

Homes England is the government body responsible for housebuilding and regeneration in England.

"The partnership brings together the essential skills, expertise and long-term approach, with the ability to unlock and scale the capital required to bring larger sites into production, enabling both major and homebuilders to build the new homes and communities the country needs," they said in a joint statement.

Reporting by Frank Prenesti for Sharecast.com