Ecotek Homes and Gresham House announce a new strategic partnership to boost the UK supply of affordable multi-tenure green homes
Ecotek Homes and specialist investment group Gresham House are delighted to announce a new partnership focused on delivering high-quality and environmentally friendly homes in urban-fringe locations across the UK.
The partnership will seek to deliver new single family homes across a mix of tenures, with a particular emphasis on the build-to-rent and shared ownership sectors.
By maintaining a focus on fairly priced and high-quality homes, Gresham House and Ecotek are seeking to offer more affordable alternatives to the thousands of families that are priced out of the UK housing market.
Initially focused on the North of England and the Midlands, this unique multi-tenure approach will prioritise sustainable homes and communities that will stand the test of time. The partnership’s vision is to develop healthier living environments that promote wellbeing through good design and management.
The new homes will be constructed using modern construction techniques and methods that create less environmental waste. On average, the homes will use up to 50% less energy than a traditionally built home, decarbonising the construction cycle and reducing embodied and operational emissions.
The partners have already acquired their first site in the North West, where work has commenced on-site to deliver the first 156 quality homes of mixed tenure, including build-to-rent, open market sale and affordable houses. The team is concurrently securing a healthy pipeline of additional suburban sites across the UK.
Stephen Haigh, CEO of Ecotek Homes, said: “Our ethos is based on years of research, experience and a desire to fix the UK’s broken housing market. Our partnership with Gresham House seeks to deliver over 1,000 new mixed-tenure, greener homes per year into the housing market, and together we aim to encourage a culture of innovation, accountability and positive change in the housing sector. With our first project commenced on site, we are already working to deliver on our ambitions.”
Joe Thomas, Investment Director at Gresham House, said: “We are delighted to be working with Ecotek Homes to accelerate the delivery of high-quality, sustainable and affordable housing across the UK, which is bringing much needed consumer choice back to local communities. The exclusive framework agreement bolsters our multi-year track record of delivering high-quality and fairly priced build-to-rent developments in the UK. We are pleased to be partnering with Ecotek Homes, as the business is clearly aligned with our wider corporate vision to deliver positive financial, social and environmental returns for our investors.”
Avison Young brokered the partnership between Ecotek Homes and Gresham House.
Richard Stonehouse, Principal, Head of Residential Investment at Avison Young, said:
“Avison Young Residential Capital Markets are delighted to have been able to obtain a strategic capital partner who has the vision and experience to meet Ecotek’s ambitious BTR growth plans and ESG objectives. It is always satisfying to see a successful outcome but even more so when the end product will have such a lasting positive social legacy.”