{"id":86188,"date":"2020-12-03T13:57:06","date_gmt":"2020-12-03T13:57:06","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=86188"},"modified":"2020-12-03T13:57:06","modified_gmt":"2020-12-03T13:57:06","slug":"modular-housing-deal","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/mmc-news\/modular-housing-deal\/86188\/","title":{"rendered":"Man Group signs \u00a331m modular housing deal with ilke Homes"},"content":{"rendered":"

Man GPM<\/a> has agreed a \u00a331m deal with modular housing company ilke Homes<\/a> for a 14.6-acre site in Grantham that has detailed planning consent for 227 homes<\/h2>\n

The deal will see the delivery of an affordable and inclusive mixed tenure modular housing community on Dysart Road in Grantham.<\/p>\n

The deal, the largest investment into the modular housing sector by an institutional investor this year, represents a huge vote of confidence in offsite manufacturing<\/a>.<\/p>\n

Of the 227 factory-built homes being delivered, 140 will be made available at affordable rent levels, 47 for shared ownership and 40 homes will be for private sale at market value.<\/p>\n

Man GPM\u2019s Community Housing strategy invests\u00a0and develops both rental and ownership homes, with a focus on addressing the housing challenges<\/a> of \u2018squeezed middle-income\u2019 families who do not qualify for social housing and for whom mortgages are unaffordable.<\/p>\n

With Man Group acting as developer on-site, ilke Homes will manufacture the homes offsite in its factory in Yorkshire. Once complete, the modular housing company will transport the homes to the site in Grantham.<\/p>\n

Ease the affordable housing shortage in the UK<\/h3>\n

Shamez Alibhai, head of community housing and portfolio manager at Man GPM, said: \u201cWe are delighted to be making a positive contribution to ease the affordable housing shortage the UK is facing by delivering a high-quality modern development with a range of housing tenures.<\/p>\n

\u201cThis investment demonstrates that it is possible to deliver high quality housing, using state of the art construction methods while also creating homes that are affordable to local residents.<\/p>\n

\u201cThe Covid-19 pandemic<\/a> has highlighted the importance of essential workers and the role they play in our everyday lives.<\/p>\n

\u201cInvestment in socially responsible projects such as this one is fundamental to the Man GPM Community Housing strategy and its aim of investing in projects that positively impact the lives of residents and the broader community.<\/p>\n

\u201cWe believe the scale of the housing shortfall across the UK requires innovative solutions and importantly ones which look after people, place and planet.<\/p>\n

\u201cDelivering ilke Homes modular housing to the Grantham site means we are not only building affordable homes but doing so in a way that also upholds our commitment to sustainable and energy-efficiency projects.\u201d<\/p>\n

\u2018A huge vote of confidence in MMC\u2019<\/h3>\n

Matthew Bench, executive director of partnerships at ilke Homes, commented: \u201cIt\u2019s a huge vote of confidence in MMC<\/a> from the institutional marketplace and it\u2019s fantastic that Man GPM are spearheading that investment.<\/p>\n

\u201cOur accredited, digitally-led method of delivery continues to significantly reduce construction timelines, typically by half when compared to traditional methods, helping investors access revenue streams at the earliest possible point.<\/p>\n

\u201cBeing able to meet institutional ESG aspirations and aligning ourselves with the shift of the investment market to single family housing further underpins our near 200% growth seen this financial year.\u201d<\/p>\n

Ian Jackson, investment director, community housing at Man GPM,\u00a0<\/strong>added: \u201cWe\u2019re delighted to have completed our first investment in modular housing<\/a> with ilke Homes, and one of the largest investments in modular housing in the United Kingdom to date.<\/p>\n

\u201cThe overall design and quality of the homes should deliver not just high quality, energy-efficient affordable housing, but a community for families to call their own.<\/p>\n

\u201cWe aim to deliver more affordable homes using modular construction, which we believe is a great housing product, and the future of the residential housing industry.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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