Latest News | 17th June 2026

HGP’s South West team completes its first deal in the region, forming a Joint Venture with Legacy Properties to deliver 80 homes in Cornwall

26 January 2026 – HGP’s South West team, a newly established office for the Lloyds-backed equity investor in the UK Living sector, has made its first equity investment in the region, supporting the development of 80 new homes in Trispen, Cornwall. The project is being delivered by Legacy Properties, a well-established, family-owned housebuilder in Cornwall.

HGP’s equity investment of £2.5 million, alongside a £20 million loan from Pluto Finance as the senior debt provider, will fund the delivery of 53 open market homes and 27 affordable homes. The homes for sale      will be a mix of predominantly three, four, and five-bedroom detached and semi-detached houses and bungalows. The affordable housing will be delivered in partnership with a Registered Provider to be announced soon.

The development, recently named The Paddocks in a competition with local school children, is located in the village of Trispen, Cornwall. Approximately five miles north of Truro, it is one of the region’s most significant administrative & employment hubs. The location offers an attractive combination of countryside living and good accessibility, including excellent transport links via the A39 and A30, which connect directly to Exeter, Newquay, and the national motorway network.

Legacy Properties has built a strong reputation for delivering high-quality, design-led homes for over 15      years, recognised by multiple industry awards. Trispen represents a key strategic milestone for them with ambitions to scale output over the next five years.

Alex Maltby, Investment Director, HGP, said: “We have chosen a fantastic partner in Legacy Properties for the recently established team’s first investment in the South West region, which will enable the delivery of high-quality homes in an area of great demand.

“This latest investment extends our UK footprint, into a region where there is a structural shortage of housing and where we can make a real impact through our equity commitments. With more traditional funding routes remaining off the table for many developers, innovative solutions like ours are critical in supporting new housing delivery.”

Nick Long, Managing Director, Legacy Properties said: “This joint venture with HGP is an important step for Legacy as we continue to grow responsibly across Cornwall. The Paddocks at Trispen is a scheme shaped around local housing need, with a strong community focus, and we are pleased to be working with a partner that shares our long-term view for creating great quality family homes in Cornwall.”    

Construction will begin early this year, with the first homes available this summer/autumn.

-ENDS-

Notes to editors

For more information on HGP, please contact:

FTI Consulting

hgp@fticonsulting.com       

Fo more information on Legacy Properties, please contact:

ANTLER AGENCY

Jen Humm, account director, jen@antleragency.co.uk, 07974964476

For more information about HGP, please contact:

FTI Consulting

Richard Gotla / Bianca MacKenzie, hgp@fticonsulting.com

About HGP:

HGP (Housing Growth Partnership) is the Lloyds Banking Group and Homes England-backed equity investor focused on the UK Living sector. We invest capital alongside developers and housebuilders to enable the accelerated delivery of homes across the UK.

We do this through our unique investment approach, which shares both risk and reward with our partners. We have a track record of, and commitment to, delivering tangible social impact through our investments.

Our team has the expertise and flexibility to fund multiple tenures, including family housing, apartments, build to rent, regeneration, affordable housing, student accommodation and retirement living.

Since 2016, HGP has partnered with 91 developers across 177 schemes, committing to nearly 15,000 homes of which over 7,000 homes have been built and sold, with the balance of 7,500 in development.    

About Legacy Properties

Legacy Properties is a family-owned, multi-award-winning property development company based in Cornwall.  With over 15 years of experience crafting beautiful and sustainable homes and new communities, Legacy Properties focuses on small collections of premium homes in Cornwall’s most sought-after locations.

Legacy Properties is committed to thoughtful design, contemporary elegance and environmental responsibility, redefining luxury new home living in Cornwall.

For more information, visit: www.legacyproperties.co.uk. 

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