Kier Living and Together Housing Group have acquired three Yorkshire sites for new housing developments.
Two sites – Tanton Road in Stokesley and Windmill Hill in Driffield – are ready to start on site, with a third in Easingwold following soon now planning has been granted. Combined, these developments will deliver 528 homes, with 209 homes allocated to affordable housing.
The developments join Blackrock Mills in Huddersfield, which was the first project acquired jointly by Kier Living and Together Housing Group. Kier Living has been building on-site since August last year and plans to deliver 113 new homes.
The Homes and Communities Agency (HCA), will be funding the three new projects by providing a £17 million debt facility through the Home Building Fund. This will allow Kier and Together Housing Group to rapidly expand their Northern Ventures joint venture, which aims to deliver over 500 homes per year by 2020.
John Anderson, Executive Director, Kier Living, said: “We’re delighted to add three more great sites and eventually over 500 more new homes to our joint venture with Together Housing Group. Both organisations are working extremely well to combine our considerable capabilities and HCA funding to accelerate much needed housing delivery in the North of England.”
Growth at Kier
The company has also announced strong full-year results for the year ended 30 June 2017. Kier Living saw revenue increase 6% to £376m following the sale of land to Kier’s joint venture with Cross Keys Homes, announced in March this year. Like-for-like revenues increased 5% over 2016, and the division delivered 2,200 homes – up 3% – with two-thirds mixed tenure units.
Revenue in the private housing business increased 5% to £174m, with an operating profit of £16.1m. The business delivered 748 private sale completions and is currently approximately 60% forward sold for FY18.
John Anderson, Executive Director, Kier Living said: “We’re pleased to announce another strong set of results for Kier Living. These results underline our experience in public and private sector housing across the UK, and our joint venture with Together Housing Group is just one example of our strong position to accelerate the delivery of much-needed new homes to tackle the country’s housing shortage.”