HGP, the Lloyds-backed equity investor in the UK living sector, has partnered with leading build-to-rent developer and operator, PLATFORM_, to form a £150 million joint venture to deliver a 451-apartment BTR scheme in Leeds, known as Sweetfields. It represents the first phase of PLATFORM_’s transformative 1.3 million sq ft mixed-use development on Sweet Street, in the South Bank regeneration area of Leeds.
Scheduled for completion at the start of 2027, the previously vacant site will become a thriving mixed-use community, featuring a mix of studio, one, two, and three-bedroom apartments, complemented by extensive amenities including a gym, resident lounges, co-working spaces, extensive roof terraces and curated green spaces.
The homes will be rated EPC B or above and feature renewable energy sources, energy-efficient heating and lighting systems, and smart in-home technologies. This first phase will also significantly contribute towards the aims of Leeds City Council’s Housing Strategy 2022-27 and its Best City Ambition initiative.
Alongside the residential offering, the first phase includes the refurbishment of a historic pub, The Commercial Inn, and creation of a 4,000 sq ft convenience grocery store. A new public square will serve as the focal point of the new neighbourhood, designed to foster community interaction and create an attractive destination for residents and visitors alike.
PLATFORM_ has also collaborated with renowned international street artist Kid Acne to create a mural on the northeast corner of the site and the façade of The Commercial Inn. The artwork helps breathe new life into the scheme, creating an iconic landmark whilst the new development comes together.
HGP invested £4.5m alongside Duchy Homes to support the delivery of 341 homes across two large schemes in Chapelgarth, Sunderland and Elwick, Hartlepool.
Duchy Homes is a well-established and award winning regional housebuilder, delivering over 200 units per annum, with operations across Yorkshire, the North East and North West. HGP have been a long term partner of HGP, with the investment representing the 6th and 7th site co-invested by HGP.
The 162 unit Elwick Scheme is the first phase of a wider “High Tunstall Farm” residential masterplan which will deliver 1,200 which benefits from a good range of local amenities and schools.
The 179 unit Chapelgarth scheme forms part of a wider “Potters Hill” masterplan to deliver 750 new homes in a key regeneration area of Sunderland located in close proximity to the Doxford International Business Park, a 125 acre site which employs over 8,000 people.
Both schemes will develop a range of quality 3, 4 and 5 bed room two storey homes, supporting much needed delivery of good quality family housing to the wider North East region
HGP has partnered with Homes by Carlton, supporting their return to market with a £1.3m investment into their Middleton St George Development. The first phase of ‘Middleton Waters’ will see Homes by Carlton deliver forty homes for open market sale as well as ten homes which are to be sold at a discount to market value, thereby delivering good quality ‘affordable’ stock to the local area.
The site has been designed with a high level of green public open space, an array of landscaping and a range of house types to create a highly attractive development of 3, 4 and 5 bed properties.
HGP investment has enabled Homes by Carlton to progress several opportunities for development, build up its land supply and deliver much needed high quality family accommodation to the region
HGP has invested £1.4m alongside Erris Homes to deliver 39 new homes in the village of Almondbury, Huddersfield. This investment will help create a unique development consisting of 3, 4 and 5 bedroom family homes. More information can be found at: www.errishomes.com.
HGP’s investment ranks equally with Erris, sharing risk and creating a true partnership. The management team at Erris are keen to grow in a sustainable manner, and partnering with HGP allows Erris to deploy their capital in a more efficient manner reducing their equity contribution and at the same time increasing their return on capital.
HGP invested £1.5m alongside Duchy Homes to deliver 11 new homes in Penistone, Barnsley, South Yorkshire. HGP’s Investment enabled Duchy to efficiently deploy their capital, reducing the amount of equity Duchy committed to the site and allowing Duchy to become active on further developments.
HGP’s return is derived from an equitable share of scheme profit. HGP does not charge any fees or interest, nor does it take any security. By Partnering with HGP, Duchy were able to accelerate their growth as a business and increase the delivery of quality homes.
Working with existing partners, Caedmon Homes HGP has co-invested on a second development to build 34 homes in the small rural village of Kirby Hill close to Boroughbridge, North Yorkshire. The development delivers a mixture of affordable and private family homes which includes both bungalows and larger detached houses, addressing housing needs in the local market.
HGP’s investment assists Caedmon in accelerating their growth plans; allowing them to run multiple schemes simultaneously.
If you’re involved in housebuilding or development we’d love to speak to you, please send us an email at info@housinggrowth.com to get in touch.
