Sekisui has acquired a 35% equity stake in Urban Splash’s modular ‘House’ business as it looks to drive modern methods of construction in the UK.
Main image: Vladimir Gerasimov/AdobeStock
Japan’s biggest housebuilder has move into the UK housing market following a multi-million pound deal that will see it work with Homes England and Urban Splash to deliver thousands of new homes across England.
Sekisui House, one of the world’s leading housebuilders, are pioneers of modern methods of construction. The £90m deal, which has been facilitated by lead real estate and financial advisor JLL, comprises a total new investment of £55m into regeneration company Urban Splash’s ‘House’ development business.
Sekisui House have invested £22m of new equity, with £30m of equity and debt funding coming from the Government’s Home Building Fund, administered through Homes England.
Experienced entrepreneur Noel McKee, founder of We Buy Any Car, has also made a sizeable investment in the new partnership and will take an incremental c. 5% stake.
Yoshihiro Nakai, President and Representative Director of Sekisui House Ltd said: “We are extremely pleased to be able to work together with Homes England and Urban Splash to establish our operations and help to create outstanding communities in the UK.
“Using modern methods of construction to build high quality homes with short build times is one of our company’s great strengths. Our technology and know-how can help resolve pressing social issues in the UK, and I want to see us play our part effective immediately. These operations can also help bring vitality to UK regions, and we will work to make the strongest connections with the local communities.”
Minister of State for Housing, Kit Malthouse MP, said: “Sekisui House bring with them a proven track record in harnessing the modern methods of construction that are transforming home building.”
Homes England, the government’s housing accelerator, has been instrumental in providing significant financial support and expertise to the new partnership as well as providing assurance to the investors.