Lovell and housing association Flagship Group have entered into a joint venture to secure land for the development of affordable homes
The joint venture aims to provide affordable homes, with a significant proportion earmarked for affordable rent, to address the shortage of housing across the East of England.
The new LLP has been formed in equal partnership in a bid to create quality developments with a strong focus on customer service in both sale and rental provision. The venture will enable both firms to share expertise, whilst securing sites of scale and increasing development opportunities.
Managing director of Flagship’s development company, Tony Tann, commented: “We know we can achieve more with like-minded organisations and working together in partnership is key in helping us to achieve our ambitious development programme. Ventures such as these, are crucial in helping support our goal of solving the housing crisis in the East of England.”
Simon Medler, regional managing director at Lovell, said: “We already have a strong relationship with Flagship that has been built over the past 20 years. We’re confident that our similar values and culture will allow us to deliver this development programme to the highest possible standard.
“The partnership will help us to deliver much needed housing and benefit communities within the region
The new LLP has been given the go-ahead to start work on an initial 89 affordable homes at its first development in Wymondham, Norfolk. Work is expected to commence on this development in September which will see a total of 335 new homes, 111 of which will be allocated as affordable housing and made available through Flagship.